Yingli Green Energy to Supply 2 MW of Solar Modules to Maqo Solar for Residential Projects in Malaysia
The Company's multicrystalline YGE Series solar modules, which will be delivered throughout 2014, will generate enough electricity for approximately 500 typical Malaysian homes.
BAODING, China, Jan. 27, 2014 -- Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), the largest vertically integrated photovoltaic ("PV") module manufacturer in the world, known as "Yingli Solar," today announced that its wholly-owned subsidiary, Yingli Green Energy Singapore Company Pte. Limited ("Yingli Singapore") will supply 2 MW of solar modules to Maqo Technologies (M) Sdn Bhd. ("Maqo Solar"), one of Malaysia's fastest-growing residential solar energy providers. The Company's multicrystalline YGE Series solar modules, which will be delivered throughout 2014, will generate enough electricity for approximately 500 typical Malaysian homes.
Today's new supply agreement further expands the Company's significant presence in Malaysia, where the Company has 11.3 MW of solar modules installed during 2013. In total, these installations could generate approximately 11,570 MWh of electricity per year, which is enough to power roughly 2,820 typical Malaysian homes.
"We are delighted to continue working with Yingli Green Energy and to maintain our strong partnership that's been in place since 2011. We are firmly committed to developing and providing green energy solutions to Malaysia, and believe that Yingli Green Energy is undoubtedly our best solar module provider. We selected Yingli Green Energy because their track record for product quality is validated by independent testing and assessments - and that gave us strong assurance in Yingli Solar modules' long-term reliability," said Colen Lau, General Manager of Maqo Solar.
"We are pleased to announce today's supply agreement with Maqo Solar, which marks the expansion of our exemplary, committed partnership," commented Angie Koh, Business Development Director of Yingli Singapore. "We value Maqo Solar as a key strategic partner in Southeast Asia, and anticipate that our relationship will spur the development of green energy solutions across Malaysia."
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 20 regional subsidiaries and branch offices and has distributed more than 7,000 MW PV modules to customers worldwide. For more information please visit www.yinglisolar.com and join the conversation on Facebook, Twitter and Weibo.
About Maqo Technologies (M) Sdn Bhd.
Maqo Technologies (M) Sdn Bhd. is a leading solar energy company incorporated in Malaysia. Maqo Solar provides full coverage of solar PV systems, including solar components, design, installation, feed-in tariffs application, consultation & after sales maintenance for both residential and commercial projects. Maqo Solar installed 1 MW in 2013 and aims for higher this year. Maqo Solar's services have covered all states in Peninsular Malaysia & also in Sabah.
For more information please visit www.maqosolar.com.