Yingli Green Energy (NYSE:YGE) has entered into an exclusive supplier framework agreement with AES Solar Energy, a developer, owner and operator of utility-scale solar plants.
AES Solar is a division of AES Corporation (NYSE: AES).
Under the terms of the agreement, Yingli Green Energy will be AES Solar’s exclusive supplier of polycrystalline PV modules expected to be purchased by AES Solar for use in solar projects in major PV markets for a term of three years.
No financial terms or supply capacities were disclosed.
Last year, AES Corporation and Riverstone Holdings LLC announced that they have committed up to $1 billion as part of a new joint venture to develop a global platform of utility-scale solar photovoltaic projects. Under terms of the agreement, AES, one of the world’s largest global power companies, and Riverstone, a New York-based energy and power-focused private equity firm, will each provide up to $500 million of capital over five years to invest in PV solar projects around the world.
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