From the Wires
Yingli Green Energy Supplies 25 MW of Solar Modules to Arizona's Queen Creek Solar Farm, One of America's Largest Operational Solar Projects
By: PR Newswire
Dec. 10, 2012 05:44 AM
BAODING, China and SAN FRANCISCO, Dec. 10, 2012 /PRNewswire/ -- 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 manufacturers, which markets its products under the brand "Yingli Solar", today announced that its subsidiary, Yingli Green Energy Americas ("Yingli Americas"), supplied 25 MW of solar PV modules to Arizona's Queen Creek Solar Farm. The project is owned by PSEG Solar Source, and was developed and built by Colorado-based engineering, procurement and construction contractor, juwi solar Inc.
All electricity produced by the Queen Creek Solar Farm is being purchased by the Salt River Project, the nation's third-largest investor-owned utility, through a 20-year power purchase agreement. The installation used over 90,000 Yingli 72 Cell Solar modules affixed and operating on a single axis solar tracking system to maximize performance, and will generate enough electricity to power approximately 3,300 homes in the greater Phoenix metropolitan area.The Queen Creek Solar Farm is one of several large-scale solar projects situated in desert locations that use Yingli Solar modules, which have a strong track record of success in arid conditions.
Mr. Michael Martin, CEO of juwi solar Inc., commented, "The Queen Creek Solar Farm achieved commercial operation less than one year after our groundbreaking, which is a highly efficient construction schedule for a project of this magnitude. Yingli Americas's sophisticated logistical support and flexibility was a key factor in the successful construction and commissioning of the entire system."
Mr. Robert Petrina, Yingli Americas' Managing Director, said, "This project is another great example of Yingli Green Energy's continued success in the utility-scale sector in the United States. Our team worked hard to deliver our client the level of quality and product assurance that utility projects demand. We're proud to be part of this milestone project and to have joined efforts with such valuable partners as juwi solar."
"We're pleased to be part of one of the biggest operational solar projects in the U.S. – this certainly cements our leadership role in the utility space," noted Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy.
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (NYSE: YGE), which markets its products under the brand "Yingli Solar", is a leading solar energy company and one of the world's largest vertically integrated photovoltaic manufacturers. Yingli Green Energy's manufacturing covers the entire photovoltaic value chain, from the production of polysilicon through ingot casting and wafering, to solar cell production and module assembly. In August 2012, Yingli Green Energy reached a balanced vertically integrated production capacity of 2,450 MW per year at its production facilities located in Baoding, Haikou, Tianjin and Hengshui, respectively. Yingli Green Energy distributes its photovoltaic modules to a wide range of markets, including Germany, Spain, Italy, Greece, France, South Korea, China, Japan and the United States. Headquartered in Baoding, China, Yingli Green Energy has more than 20 subsidiaries and branch offices worldwide. Yingli Green Energy is publicly listed on the New York Stock Exchange (NYSE: YGE). For more information, please visit www.yinglisolar.com.
About juwi solar Inc.
juwi solar Inc. (JSI) is a privately-held solar energy generation company based in Boulder, Colorado. JSI's primary business is the development, design, construction, operation and maintenance of utility-scale (1MW and larger) solar energy generation facilities in North America. To date JSI has successfully built large-scale solar projects in Arizona, Florida, Nevada, New Jersey, North Carolina, Ohio and Texas and is developing and building projects in many other markets in the United States. JSI is majority-owned by juwi Holding AG of Germany. With over 600 employees worldwide, juwi's solar group has built more than 1,500 solar photovoltaic installations globally, totaling more than 1GW of operating capacity.
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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