BAODING, China, Jan. 4, 2013.
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 wholly-owned subsidiary Tianjin Yingli New Energy Resources Company Limited (“Tianjin Yingli”) has achieved significant progress in multicrystalline ingot casting.
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In July 2012, Tianjin Yingli entered into a partnership agreement with Zhejiang Jingsheng Mechanical & Electrical Company Limited (“Jingsheng”) to develop high-efficiency multicrystalline ingot casting technology based on gas refrigeration. Through joint efforts of both parties, Tianjin Yingli has successfully upgraded its furnaces and improved the quality of its ingots. According to experimental results,the best average conversion efficiency of cells using wafers from one of the improved multicrystalline ingots reached 17.75%.
“We’re pleased to see that our partnership with Jingsheng has led to significant advancement of multicrystalline ingot casting,” said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy.
The improved technology will allow us to enhance our competitiveness through reduced consumption of energy and raw materials and improved yield rate. As a leading renewable energy company, Yingli has been committed to technology and product innovation, which has enabled us to emerge stronger under the challenging market conditions.
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.
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.
Gordon's expertise in the area of industrial energy efficiency and alternative energy. He is an experienced electrical engineer with a Masters degree in Alternative Energy technology. He is the co-founder of several renewable energy media sites including Solar Thermal Magazine.