North Coast Solar Stocks

August 26, 2009

Yingli Green Energy to Supply PV Modules to Leading Czech Commercial Property Developer

Filed under: YGE — Tags: , , , , — Jason @ 8:53 am

Wednesday August 26, 2009, 8:53 am EDT

BAODING, China, Aug. 26 /PRNewswire-Asia-FirstCall/ — Yingli Green Energy Holding Company Limited (YGE; “Yingli Green Energy” or the “Company”), one of the world’s leading vertically integrated photovoltaic (“PV”) product manufacturers, and CTP Invest spol. s r.o. (“CTP”), a Czech-based leading commercial property developer, today announced that they have signed a letter of intent regarding the supply of PV modules by Yingli Green Energy to CTP.

Under the terms of the letter of intent, CTP is expected to purchase approximately 5 MW of PV modules from Yingli Green Energy in the fourth quarter of 2009, which are expected to be used for several on-grid rooftop systems in CTP’s industrial parks and office centers located in the Czech Republic.

“We believe Yingli is a value-added partner with its leading position in the industry, trusted brand name and a solid track record. We expect to enter into binding contracts with Yingli based upon this letter of intent in the following weeks and we look forward to pursuing additional cooperation opportunities in Central and Eastern Europe,” commented Mr. Remon L. Vos, Managing Director of CTP.

“We are delighted to announce the cooperation with CTP, which represents a solid step we have achieved to explore the Czech Republic market,” commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. “We have delivered more than 10 MW PV modules to customers in the Czech Republic this year, and we believe the cooperation with CTP further demonstrates our strong ability to capture market share in emerging markets. With the gradually improving financing conditions and recovering market demand in Germany and other European markets, we are excited about the upcoming new growth cycle for solar in Europe.”


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