Companies' Supply Agreement Provides Competitive PV Power Solutions to Growing Commercial and Utility U.S. Project Pipeline
BAODING, China, and SAN DIEGO, Calif., May 12, 2015 -- Yingli Green Energy Holding Company Limited (NYSE: YGE)("Yingli Green Energy" or the "Company"), one of the world's leading solar panel manufacturers, known as "Yingli Solar," today announced that its U.S.-based subsidiary, Yingli Green Energy Americas ("Yingli Americas"), has entered into a solar panel supply agreement with San Diego-based Borrego Solar Systems Inc. ("Borrego Solar"). Under the terms of the agreement, Yingli Americas expects to supply Borrego Solar with up to 40 megawatts (MW) of solar panels in 2015. Borrego Solar plans to install Yingli's high-performing multicrystalline panels in commercial and utility solar projects across the United States.
Since the two companies entered into their first supply agreement in 2008, Borrego Solar has installed 114 MW of Yingli Solar panels. Last year, Borrego Solar completed several high-profile solar energy systems using Yingli panels, including the Anaheim Convention Center project (Anaheim, Calif., 2.4 MW dc); the First Wind Warren projects (Warren, Mass., 17.0 MW dc); and the Seneca project (Victorville, Calif., 8.3 MW dc).
"This supply agreement with Yingli allows us to continue providing our commercial and utility customers with the quality and cost competiveness they've come to expect," said Mr. Aaron Hall, president of Borrego Solar. "We source from a variety of technology vendors so that our engineers can design a system that is optimized for energy production and affordability. Our decision to continue working with Yingli is based on a strong six year track record and our confidence in their technology and operational support."
Mr. Robert Petrina, managing director of Yingli Green Energy Americas, commented, "Since its inception, Yingli Americas' strategic priority has been the development of long-term customer relationships with proven partners such as Borrego Solar. Our teams are closely aligned and we are determined to provide lasting support to benefit U.S. business owners and utilities."
Mr. Liansheng Miao, chairman and chief executive officer of Yingli Green Energy, commented, "We are happy to bring green jobs and clean power to the U.S. in partnership with Borrego Solar. We've had a chance to get to know their team since their beginning, and we are proud partners."
About Borrego Solar
Established in 1980, Borrego Solar Systems, Inc. is one of the nation's leading designers, developers, installers, O&M providers and financiers of commercial and utility solar power systems. Borrego Solar's photovoltaic systems are efficient, reliable and cost-effective. With more than three decades of experience and more than 1,100 solar power installations completed - totaling over 160 MW - Borrego Solar offers a complete line of solar system design and installation services throughout North America. Borrego Solar was the third largest commercial solar installer in the United States in 2014. For more information, visit www.borregosolar.com.
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 30 regional subsidiaries and branch offices and has distributed more than 13 GW solar panels to customers worldwide. For more information, please visit www.yinglisolar.com and join the conversation on Facebook, Twitter and Weibo .