Yingli Green Energy Awarded Significant Orders from China’s Golden Sun Program
Yingli Green Energy, a leading solar energy company and one of the world’s largest vertically integrated photovoltaic manufacturers, has been selected as a major PV module supplier to the Gold Sun Program, which is sponsored by the Ministry of Finance of China.
In November 2010, a total amount of 272 MW PV projects were announced under the Program, to which the Yingli is expected to supply approximately 70 per cent of the PV modules. Under the terms of the sales agreements, the majority of the module shipments are scheduled in the second half of 2011. In addition, the Ministry of Finance will grant 70 per cent of subsidy to the company once the sales agreements are concluded and the relevant application procedures are fulfilled.
Commenting on the selection, Mr Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy, said: “We are honoured to become a major PV module supplier for the Golden Sun Program, which is a significant business milestone for our expansion in the Chinese solar market.
“I am happy to witness that the Chinese government has demonstrated its strong commitment to boost renewable energy utilisation in its recently announced Five-Year Plan. The renewable energy industry, including solar energy, has been identified as one of China’s strategic emerging industries by the central government of China.”
The Chinese government recently declared its expectations to further expand its PV project portfolio in the next two years to reach a scale of at least 1,000 MW per year after 2012.
Mr Miao added: “As a solar pioneer based in China, Yingli Green Energy has demonstrated a firm commitment to the Golden Sun Program. The company is responding to its mission and responsibility to meet the demand for affordable renewable energy in China by supplying high quality PV products from cutting-edge technologies. In addition, we expect this strategic move in emerging markets will further reduce the dependence on the German market, thus strengthening our long-term development dynamics.”