Yingli Green Energy Holding Company Limited (NYSE: YGE), a vertically integrated photovoltaic (PV) product manufacturer in China, yesterday announced that it has signed a sales contract with EDF Energies Nouvelles (Paris: EEN) to supply 7 megawatts (MW) of PV modules in 2008.
Under the sales contract, EDF has an option to order another 6 MW of PV modules in 2008.
Mr. Liansheng Miao, Chairman and CEO of Yingli Green Energy said, "This sales contract will help us diversify our customer base and further build our presence in the European market."
About Yingli Green Energy
Through the Company’s principal operating subsidiary in China, Baoding Tianwei Yingli New Energy Resources Co., Ltd., Yingli Green Energy designs, manufactures and sells PV modules and designs, assembles, sells and installs PV systems that are connected to an electricity transmission grid or those that operate on a stand-alone basis.
With 200 MW of total annual production capacity in each of polysilicon ingots and wafers, PV cells and PV modules, Yingli Green Energy is currently one of the largest manufacturers of PV products in China as measured by annual production capacity. Additionally, Yingli Green Energy is one of the limited numbers of large-scale PV companies in China to have adopted vertical integration as its business model. Yingli Green Energy says it currently plans to gradually expand annual production capacity of polysilicon ingots and wafers, PV cells and PV modules to 400 MW by the end of 2008 and to 600 MW by the end of 2009. Yingli Green Energy sells PV modules under its own brand name, Yingli Solar, to PV system integrators and distributors located in various markets around the world, including Germany, Spain, Italy, China and the United States.
About EDF Energies Nouvelles
Founded in 1990, EDF Energies Nouvelles is a player in the green electricity generation market. With a presence in 9 European countries and in the United States, EDF Energies Nouvelles operates in four renewable energy segments (wind, solar, biomass and hydro). EDF Energies Nouvelles is a 50%-owned subsidiary of the EDF group. Since November 28, 2006, EDF Energies Nouvelles has been listed in Compartment A of Eurolist by Euronext Paris (code: EEN, ISIN code: FR0010400143).
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