Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), the world's largest vertically integrated photovoltaic ("PV") manufacturer, which markets its products under the brand "Yingli Solar", today announced that its wholly-owned subsidiary, Yingli Energy (China) Company Limited ("Yingli China"), will supply 28 MW of multicrystalline YGE Series PV modules to the State Grid Corporation of China ("SGCC"), the world's largest utilities company. SGCC is a state-owned enterprise approved by the State Council to conduct government authorized investment activities and has been ranked the 7th in the Fortune Global 500 in 2013.
Yingli Green Energy's modules will power the largest out of three solar projects being developed by SGCC in Zhangbei County, Hebei Province. These installations, totaling 60 MW, are part of the second phase of China's National Wind/PV/Energy Storage and Transmission Joint Demonstration Project ("the Project"). According to the relevant requirements of the bid documents, the Company will complete module delivery in the fourth quarter of 2013.
The Project is an innovative demonstration that integrates different renewable energy technologies with smart transmission and storage technologies with the goal of predictably and reliably delivering green energy across the grid at-scale. The Project will help SGCC fulfill its goal of creating a "Strong & Smart Grid" while also expanding renewable energy capacity in China.
"We are honored to have the opportunity to collaborate with SGCC again and to provide our high-quality PV modules for this high-profile energy demonstration project," said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "We were selected for this project because of our leadership position in the domestic market, and we are pleased to note that the bidding results demonstrate that the price gap between China and overseas markets is narrowing as supply and demand fundamentals in the Chinese solar market are strengthening, helping to further improve our profitability."