Feb 25 2010
Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), a leading solar energy company and one of the world's largest vertically integrated photovoltaic ("PV") manufacturers, who holds the brand Yingli Solar, today announced it has signed a three-year framework agreement with Gehrlicher Solar AG ("Gehrlicher Solar"), one of the leading PV system integrators in Europe.
Under the terms of this agreement, Yingli Green Energy has agreed to supply 285MW 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 key European PV markets.
"We are pleased to announce this new long-term business relationship with Gehrlicher Solar," said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "We believe the establishment of our partnership with Gehrlicher Solar, one of the leading system integrators with a diversified portfolio of customers in Europe, will further strengthen our position in this important region. In establishing this partnership, we were particularly impressed by Gehrlicher Solar's successful track record in the PV industry, their focus on innovative solar PV solutions as we approach grid-parity, and their business partnership philosophy."
Mr. Miao noted that the three-year agreement provides Yingli Green Energy and Gehrlicher Solar with additional visibility on sales and supply volumes as well as a solid foundation for long-term cooperation.
Mr. Klaus Gehrlicher, founder and Chief Executive Officer of Gehrlicher Solar, said, "This long-term framework agreement with Yingli Green Energy will strengthen our position within the crystalline market segment and enhance the representation of both companies in major solar markets in Europe. In addition, we are pleased to be adding Yingli Green Energy's high-quality PV modules, which are a perfect fit with our 'gehrtec' product family, to our portfolio of products."