Yingli Green Energy Partners with XSOL in Japan
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", announced that its wholly-owned subsidiary, Yingli Green Energy Japan Corporation Ltd. ("Yingli Japan") has entered into a distribution agreement with XSOL Co., Ltd.("XSOL"), a leading Japanese solar energy company and full-service PV system provider.
Under the terms of the agreement, XSOL will sell and promote YGE 60 Cell Series modules since the middle of January 2014 in Japanese market. Yingli Green Energy was the first solar module manufacturer to obtain TUV Rheinland's JIS Q 8901certificate, which certifies that Yingli modules meet the strict reliability requirements of Japanese consumers. YGE Series modules are also certified by TUV Rheinland to withstand challenging environmental conditions such as salt mist and ammonia.XSOL sold over 137 MW of PV modules and systems in Japan through its over one thousand sales dealers/installers in the past fiscal year 2012/13 (ended May 31, 2013).
"XSOL has made a breakthrough in the Japanese PV market, which has expanded significantly in recent years. Our partnership with Yingli Solar is a pillar of our solar module strategy, and we believe it will be an important driver of our company's growth, as well as the growth of the Japanese market. Furthermore, the sale and promotion of high-performing Yingli Solar modules will help both XSOL and Yingli strengthen their brands' reputations for industry-leading quality among Japanese consumers," said Mr. Takumi Kashiwa, Chief Executive Officer of XSOL Co., Ltd.
"We are very pleased to partner with XSOL, which has successfully expanded from Japan's residential sector into the commercial market," said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "Our extensive experience as the world's largest module supplier makes us a strong partner for XSOL; additionally, this agreement will help Yingli meet its strategic three-to-five year sales goals for Japan. By synthesizing our companies' advantages and experience in the global PV market, we firmly believe that both parties will benefit from this cooperation."
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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 XSOL Co., Ltd.
Since its founding in 2001, XSOL has devoted itself entirely to the total production of PV systems. XSOL operates three businesses in its roles as a manufacturer, system integrator, and supplier. As a manufacturer, XSOL creates a previously unseen level of value and offers ground-breaking products that respond to specific market needs, ranging from products for the commercial market to those for residential use. As a system integrator, XSOL provides income/expenditure simulation, design, construction, and operational services as a one stop service to meet the requirements of large-scale industrial systems, public systems and solar power plants based on its extensive knowledge of solar power generation. As a supplier, XSOL supplies original products as leading PV wholesaler with over one thousand sales dealers/installers. For further information, please visit www.xsol.co.jp.
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Yingli Green Energy's control, which may cause Yingli Green Energy's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in Yingli Green Energy's filings with the U.S. Securities and Exchange Commission. Yingli Green Energy does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
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Yingli Green Energy Holding Co., Ltd.
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