BAODING, China and MADRID, Feb. 6, 2018 /PRNewswire/ -- Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli" or "Yingli Solar"), one of the world's leading solar panel manufacturers, today announced that its wholly owned subsidiary, Yingli Green Energy Europe, S.L. ("Yingli Europe") has signed an agreement with Jenner Renewables, to provide Engineering, Procurement and Construction (EPC) services for 12 ground-mounted PV plants in Chile, with the total capacity of 146MW.
According to the agreement, the project is divided in 2 phases: Cluster 1 includes 4 PV plants and the construction will begin in February 2018 with expected operation by June 2018; Cluster 2, including 8 PV plants, will begin by the completion of Cluster 1. As the EPC contractor and exclusive solar panel supplier for the project, Yingli will supply its multicrystalline modules type YL325P-35B. Upon completion, each PV plant is anticipated to avoid 20.8 tons of CO2 per year.
"As an independent power producer operating throughout Latin America, we are very excited to contribute in such a significant way to the development of renewable energy in Chile. This country is at the forefront of implementing a carbon free electricity system by 2040 and our projects definitely support this strategy," said Jorge Calvet, Founder and CEO of Jenner Renewables. "This is part of our renewable energy pipeline of 1,500 MW, which we intend to develop over the next 3-4 years in Chile, Mexico, Colombia, Argentina and other countries in the region."
"We are proud to partner with Jenner Renewables on such a significant project, which is the largest EPC project that Yingli undertook independently. In addition to focusing on our historical customers, such as EPC contractors and project developers, we are also seeking opportunities in some specific countries or cooperation with some specific partners to provide EPC services, which we believe could bring higher added value to our high quality products and therefore increase our service level," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli.
"We are delighted to secure this EPC, which proves the adequate service level, competitive advantage and capabilities from Yingli Solar. This contract is a milestone for us in Latin American region and we will continue to develop the business unit and strengthen our local presence. The framework agreement within both companies includes a pipeline above 1GW, which demonstrates the trust and commitment between Yingli and Jenner Renewables," said Mr. Fernando Calisalvo, the Managing Director of Yingli Europe.
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (NYSE: YGE), known as "Yingli Solar," is one of the world's leading solar panel manufacturers. Yingli Green Energy's manufacturing covers the photovoltaic value chain from ingot casting and wafering through solar cell production and solar panel assembly. Headquartered in Baoding, China, Yingli Green Energy has more than 20 regional subsidiaries and branch offices and has distributed more than 20 GW solar panels to customers worldwide. For more information, please visit www.yinglisolar.com and join the conversation on Facebook, Twitter and Weibo.
About Jenner Renewables
Jenner Renewables is a portfolio company of funds managed by Denham Capital, a leading global energy-focused private equity firm with more than US$9.0 Billion of invested and committed capital across 10 fund vehicles. Jenner Renewables' goal is to develop, finance, construct and opportunistically acquire renewable power generation assets across Spanish speaking Latin America.
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Yingli Green Energy's control, which may cause Yingli Green Energy's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in Yingli Green Energy's filings with the U.S. Securities and Exchange Commission. Yingli Green Energy does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
For further information, please contact:
Yingli Green Energy Holding Company Limited
Tel: +86 312 8929787
Marketing & Communication Manager
Yingli Green Energy Europe S.L.
Tel: +34 91 843 67 26
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SOURCE Yingli Green Energy Holding Company Limited