Yingli Green Energy to Expand Its Footprint into Malaysia Residential Market

Yingli Green Energy Holding Company Limited (NYSE: YGE) (“Yingli Green Energy” or the “Company”), a leading solar energy company and the world’s largest photovoltaic (“PV”) manufacturer, which markets its products under the brand “Yingli Solar,” today announced that its wholly-owned subsidiary, Yingli Green Energy Singapore Company Pte. Limited (“Yingli Singapore”) has signed a framework agreement with RE FIT Solution Sdn. Bhd. (“RE FIT”) to supply 500 KW of multicrystalline PV modules for the residential market in Malaysia. These modules will power at least 125 families, which currently accounts for nearly 10% of the residential market in Malaysia.

“We are pleased to cooperate with RE FIT and to bring clean power to Malaysian families with our high-performance PV modules. Today’s announcement follows on the heels of our supply contract for the largest single site PV power plant in Malaysia,” commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. “In light of Yingli Green Energy’s reliable quality and convenient after-sale service, we believe that we will further expand our market share in the residential and utility segments of Malaysia, as well as other countries in Southeast Asia with huge potential for PV applications.”

“We are pleased to be working with the world’s largest PV supplier and to have signed a significant framework agreement. This not only represents RE FIT’s confidence in the quality of Yingli Green Energy’s modules, but also RE FIT’s belief in the emerging solar industry in Malaysia,” commented Mr Wong Sheng Foo, Project and Operations Manager of RE FIT. “We hope that RE FIT and Yingli Green Energy will have a long-standing collaboration as leading solar players in Malaysia.”

Tagged as:

No Comments

Leave A Reply

You must be logged in to post a comment.