Yingli Green, European EPC Partner Ink Deal for PV Projects
Yingli Green Energy Holding Co. Ltd.’s YGE wholly owned subsidiary, Yingli Green Energy Europe GmbH has signed a supply agreement with a European EPC Partner to provide solar panels for photovoltaic (“PV”) projects in the Dominican Republic.
Per the agreement, Yingli Europe will supply almost 200 megawatts ("MW") of solar panels to the Partner. Commercial terms of agreement, which will run through mid 2019, have been fixed. Out of this figure, to date, 50 MW of projects are in developed stages, with construction expected to begin in 2017, while the remaining 150 MW of projects are in early stages of development.
According to Project Manager at Yingli Europe, Norman Luth, headwinds in the European market has urged the company to continue working with the Partner to export European knowledge and experience to emerging markets across the world.
Mr. Liansheng Miao, Chairman and CEO of Yingli, stated, "The combination of European EPC technical and economic efficiency, honed over many years in a challenging European market, and Yingli's leading brand with over 14 gigawatts of proven product performance in the field creates a potent force for the diffusion of solar electricity generation infrastructure in emerging markets."
Yingli Green Energy is a leading, vertically integrated manufacturer of photovoltaic products based in China. The company manufactures the entire photovoltaic value chain, including ingot casting and wafering, solar cell production and solar panel assembly.
Zacks Rank & Key Picks
Yingli Green currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the solar space are SunPower Corporation SPWR, ReneSola Ltd. SOL and SolarCity Corp. SCTY. While SunPower and ReneSola sport a Zacks Rank #1 (Strong Buy), SolarCity carries a Zacks Rank #2 (Buy).
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