Yingli Green Energy Holding Company Limited (NYSE:YGE), a vertically integrated photovoltaic (PV) manufacturer, has signed a three-year supply deal with German PV system integrator Gehrlicher Solar AG.
Yingli Green Energy will supply 285 megawatts (MW) of PV modules to Gehrlicher Solar over a three-year period through 2012. The PV modules to be supplied by the Company under this agreement are expected to be installed mainly in residential, commercial roof-top and ground-mounted power plants across Europe.
Financial terms were not disclosed.
Mr. Liansheng Miao, Chairman and CEO of Yingli Green Energy, said the deal was important in establishing the company’s presence in Europe, and could lead to long-term cooperation.
Headquartered in Baoding, China, Yingli Green Energy has more than 6,000 employees and more than 10 subsidiaries and branch offices worldwide.
Gehrlicher Solar AG was founded in 1994 by Chairman of the Board, Klaus Gehrlicher. Gehrlicher Solar AG is both a system integrator and a wholesaler. As a system integrator, Gehrlicher Solar AG plans, constructs, finances and maintains photovoltaic systems. As a wholesaler, it also offers solar modules, as well as its own components (from cables to substructures). The company also plans, establishes and administrates photovoltaic funds or private placements for investors.
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