New Policies Lead to New Opportunities
BAODING, China, Nov. 18, 2014 -- Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), the world's largest vertically integrated photovoltaic ("PV") module manufacturer, known as "Yingli Solar," sees new energy policies in China bringing new opportunities to expand its distributed solar generation initiatives and help meet China's energy demand more sustainably. The Company recently celebrated the successful completion of its first demonstration project under the new policy, which was developed for DuPont, a leading supplier of specialty materials to the solar energy industry, and also set a goal to expand its efforts to pursue additional distributed generation projects.
In September, China's National Energy Administration (NEA) published a new policy to help the country achieve an installation target of 13 gigawatts (GW) of solar energy in 2014, with a focus on accelerating distributed solar generation. Since only 3.3 GW of solar energy was installed in China in the first half of 2014 according to NEA, Yingli Solar continues vigorously pursuing additional distributed generation projects to help close the gap by year end.
"NEA has set an ambitious goal of solar power to help China meet its growing clean energy demand and Yingli Solar is going all out to support them in meeting the target. We understand what is most critical to ensure distributed generation projects succeed: close collaborations, superior technology and lasting quality, and we are intensifying our downstream efforts to accelerate distributed generation installations," said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "We're happy to see the successful completion of the project with DuPont, which proves our strong ability to ensure safe installation and good operational conditions to the customer."
The recently announced completion of a 210 kilowatt distributed solar generation project on the rooftop of the DuPont China R&D Center in Shanghai demonstrates Yingli's efforts to promote the development of distributed PV generation projects. Yingli's dedicated distributed generation team was responsible for the system's design, installation, and interconnection. The installation also employed advanced technology with high efficiency n-type PANDA solar cells, which are made using a specialized new DuPont™ Solamet PV3Nx silver/aluminum metallization paste. To help ensure long term durability, DuPont Tedlar film-based back sheets in a tri-layer construction (TPT) were specified to provide the highest thermal stability, reducing the risk of cracking, blistering and delamination that can compromise electrical safety, and lightweight framing materials from DuPont were utilized decrease the weight on the roof and ease installation. Additionally, Yingli and DuPont signed a 25 year energy management contract which specified that the 202,000 kilowatt hours of solar-generated electricity the system expected to produce each year will be sold to DuPont and consumed by DuPont China R&D Center. This energy contract will not only help the two companies share profits and provide green and sustainable power to the end users, but also conducive to promote its development in solar industry.
Based on the system's expected generation and local weather conditions, national feed-in tariffs, and local incentives, the project's investment is expected to be recouped in approximately six years.
"Many Fortune 500 companies, including DuPont, have made great efforts to save energy and reduce carbon emissions by utilizing renewable energy," said Yiyu Wang, Chief Financial Officer of Yingli Green Energy. "We hope their increasing demand for clean energy will build confidence in the viability of solar power for a broad range of end uses. We look forward to partnering with the world's leading companies to drive the development of distributed solar generation in China."
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (NYSE: YGE), known as "Yingli Solar," is the world's largest photovoltaic module manufacturer in terms of production capacity and shipments. Yingli Green Energy's manufacturing covers the photovoltaic value chain from ingot casting and wafering through solar cell production and module assembly. Headquartered in Baoding, China, Yingli Green Energy has more than 30 regional subsidiaries and branch offices and has distributed more than 10,000 MW of PV modules to customers worldwide. For more information, please visit www.yinglisolar.com and join the conversation on Facebook, Twitter and Weibo.