Yingli Green Energy Holding Company Limited (NYSE: YGE), a vertically integrated photovoltaic (PV) product manufacturer, and Recurrent Energy, a distributed power company and a leading provider of solar energy, today announced that they have entered into a strategic sales agreement.
Under this agreement, Yingli Green Energy has agreed to supply Recurrent Energy with crystalline PV modules through 2012 for expected use in Recurrent Energy’s distributed solar projects, typically ranging from 2 to 20 megawatts (MW), in the U.S., Canada, Europe and other emerging markets.
Financial terms and specific supply quantities were not disclosed.
The announcement was made at the PV America conference in Philadelphia, PA.
Mr. Liansheng Miao, Chairman and CEO of Yingli Green Energy. "We are particularly excited to work with Recurrent Energy as they are pursuing an aggressive market development strategy with a strong pipeline of projects across North America and Europe."
Czech Republic PV Installation
Yingli Green Energy also announced on Friday that its PV modules will be installed in a 13-MW plant in the Czech Republic to be constructed by S.A.G. Solarstrom AG (S.A.G.).
According to S.A.G., the plant is the largest PV project in the Czech Republic currently. Construction of the plant is scheduled to begin in July 2009 for completion in the fall 2009. The plant is expected to produce an estimated 13,650,000 kWh of electricity per year- enough to supply more than 3,000 households.
"We are very pleased that our partnership with S.A.G will result in this milestone PV project, the largest in the Czech Republic and the first in the country for both Yingli and S.A.G.," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "With an attractive feed-in tariff, we believe the Czech Republic will play an increasingly important role in the global PV market in Europe."
Through a series of supply agreements over the past four years, Yingli Green Energy has supplied a total of 68 MW of PV modules to S.A.G. for projects throughout Europe.
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