Yingli Green Energy Holding Company Limited (NYSE: YGE), a vertically integrated photovoltaic (PV) product manufacturer, announced that it has signed contracts with two Korean companies: Korea Electric Power Industrial Development Corporation (KEPID), and Kaycom Corporation, a distributor of electronic components and PV devices.
Under the terms of the contracts, Yingli Green Energy will deliver 1.3 MW of PV modules to KEPID by the end of April 2008 and 2.0 MW of PV modules to Kaycom by the end of May 2008. The PV modules to be provided by the Company under these contracts will be installed in KEPID's planned 1.8MW project in Naju, Jeon la nam-Do, Korea and Kaycom's Daelim Hae-Nam Project in Haenam-Gun, Jeon la nam-Do, Korea.
"Following successful achievements in Spain and Germany, I am pleased to announce these contracts with KEPID and Kaycom, which mark our first step in Korea's growing solar market," commented Mr. Liansheng Miao, Chairman and CEO of Yingli Green Energy.
"Korea is expected to play an increasingly important role in the development of the alternative energy industry, especially due to its favorable feed-in-tariff policy," he added.
About Yingli Green Energy
Yingli Green Energy Holding Company Limited is one of the world's leading vertically integrated PV product manufacturers. Through the Company's principal operating subsidiary in China, Baoding Tianwei Yingli New Energy Resources Co., Ltd., Yingli Green Energy designs, manufactures and sells PV modules and designs, assembles, sells and installs PV systems that are connected to an electricity transmission grid or those that operate on a stand-alone basis. With 200 MW of total annual production capacity in each of polysilicon ingots and wafers, PV cells and PV modules, Yingli Green Energy is currently one of the largest manufacturers of PV products in the world as measured by annual production capacity.