Yingli Green Energy Holding Company Limited (NYSE: YGE) announced that its U.S. subsidiary, Yingli Green Energy Americas, Inc. ("Yingli Americas"), has signed a new PV module supply agreement with San Diego-based Borrego Solar Systems Inc. ("Borrego Solar"). Under the terms of the agreement, Yingli Americas is expected to supply 20 megawatts (MW) of PV modules to Borrego Solar in 2011. These modules are designated for commercial solar projects across the U.S.
Borrego Solarpurchased 10 MW of Yingli Solar PV modules in 2010, which were used in several high-profile projects, including the San Diego Community College District (San Diego, CA, 2.8 MW), City of Ridgecrest (Ridgecrest, CA, 500 kW), and San Diego County Water Authority (San Diego, CA, 1.8 MW). In total, these projects created approximately 400 green jobs, and are expected to deliver enough clean solar energy to power approximately 8,500 homes.
"We have been impressed by Yingli Americas' dedicated team, commitment to quality and dependable delivery since our very first order," said Aaron Hall, President of Borrego Solar. "Borrego Solar will always continue to work with multiple vendors, and as with the case with Yingli Americas, we have doubled our purchase volume in 2011. We made this decision based on our past positive experiences and the confidence that Yingli Americas can supply our customers with reliable products."
Robert Petrina, Managing Director of Yingli Americas, said, "We are pleased to announce our expanded relationship with Borrego Solar, a proven solar developer and committed long-term partner. With a significant pipeline of contracted sales secured and a highly-experienced team, we're continuing to work closely with customers like Borrego Solar to further the accessibility of solar energy, and to lower power costs for the end user."
Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy, commented, "We have known Borrego Solar for several years and value the strength of our relationship, as well as our combined focus on solar energy adoption. Together, our companies are bringing green jobs and clean electricity to leading commercial businesses and institutions throughout the U.S."
