Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), a leading solar energy company and one of the world's largest vertically integrated photovoltaic ("PV") manufacturers, which markets its products under the brand "Yingli Solar", today announced that the Company has supplied 40 MW of PV modules for the largest solar plant in Latin America to date. Yingli Green Energy is the exclusive PV module supplier for the project.
The solar installation was developed in Peru by Gestamp Solar and Solarpack in collaboration with local companies. The project is based in two locations: approximately 20 MW in Tacna with 75,306 Yingli YL290 PV modules on an area of 120 hectares, and approximately 20 MW in Moqueua with 72,032 Yingli YL290 PV modules on an area of 123 hectares, respectively. The project is expected to be in operation at the end of 2012.
The solar plant is the largest in Latin America currently, and is expected to produce enough energy to power more than 67,000 homes in the area. Moreover, it is expected to avoid the emission of 24,000 tons of CO2 every year. By combining forces on this historic project, the Gestamp Solar-Solarpack joint venture and Yingli Green Energy are showcasing their strong commitment to sustainability and environmental stewardship.
"We are pleased to achieve this important milestone in Latin America," said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "Peru is one of the most important emerging markets in Latin America given its strong solar energy potential. By supplying modules for this project and by leveraging our sponsorship of the 2014 FIFA World Cup in Brazil, we are paving the way for substantial expansion throughout South America."
Fernando Calisalvo, General Managing of Yingli Green Energy Spain, stated, "We are pleased to cooperate with Gestamp Solar and with Solarpack to complete the largest solar plant in Latin America. This project plays a very important strategic role for our continued success."
"We are very glad to partner with a leading solar brand such as Yingli Solar. This project reinforces our presence in Latin America as one of main pillars of our international expansion, and help us to become one of leading solar companies in the Latin American industry," said Mr. Jorge Barredo, Chief Executive Officer of Gestamp Solar.
"We chose Yingli Green Energy because of their quality products and dedicated services. Solarpack has been at the forefront of developing and building solar projects in Peru, and with this landmark project, we are significantly expanding our leadership position," said Mr. Pablo Burgos, Chief Executive Officer of Solarpack.