Yingli Green Energy Holding Company Limited (NYSE: YGE), a vertically integrated photovoltaic (PV) product manufacturer, announced that it has signed a sales contract with Eiko Trading Corporation JP (EIKO), which is engaged in the development and installation of PV systems in Japan.
Under the terms of the contract, Yingli Green Energy will supply 17.35 megawatts (MW) of PV modules to EIKO for planned projects in Germany. The shipment will be delivered between April and November 2008.
"We initiated our business cooperation with Yingli in mid-2007," commented Mr. Rui Chen, President of EIKO. "The performance, reliability and quality of Yingli’s PV modules have impressed both us and our clients. These qualities, in addition to their excellent customer service, convinced us to deepen our business relationship with Yingli through 2008 and purchase a significant quantity of PV modules for projects in Germany. Our strategy is to provide reliable and flexible turnkey PV system solutions to our customers and Yingli shares our vision. We expect our cooperation with Yingli to develop into a more strategic, long-term relationship as we both continue to grow rapidly."
"After achieving much success in the Japanese market, EIKO is now looking to leverage its knowledge and experience to allow it to move into overseas markets, and obviously Germany stands out as one of the most important long term markets," commented Mr. Liansheng Miao, Chairman and CEO of Yingli Green Energy. "Our solid market presence and well-regarded brand name were major factors that prompted EIKO to choose Yingli as one of its top-tier partners in Germany."
About Yingli Green Energy
Yingli Green Energy Holding Company Limited is a vertically integrated PV product manufacturer. 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 the world as measured by annual production capacity.
Yingli Green Energy 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 EIKO
Eiko Trading Corporation JP is engaged in the development and installation of PV systems in Japan together with consulting, trading and investing in the renewable energy development sector with global partners. EIKO works as a strategic partner with pension funds in Germany and engages in a series of investment and management of photovoltaic projects mainly in Germany and throughout Europe.
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