Friday, November 2, 2007

Yingli Green Energy Signs 16.5 MW Agreement with ATERSA

BAODING, China--(BUSINESS WIRE)--Yingli Green Energy Holding Company Limited (NYSE: YGE), one of the leading vertically integrated photovoltaic (PV) product manufacturers in China, today announced that it has signed an agreement to sell 16.5 MW of photovoltaic ("PV") modules to Aplicaciones Técnicas de la Energía, S.L. ("ATERSA"). ATERSA and its parent company, the Elecnor S.A. ("Elecnor"), are leaders in producing and distributing PV modules and PV equipment as well as PV "Turn-Key Projects" in Spain.

The PV modules provided by Yingli in this agreement will be installed in the Argasol Project and the Alumbra Project, which are located in Ciudad Real and Badajoz, Spain, respectively. The quality and power output of the modules supplied to ATERSA will be tested by ATERSA's laboratories. This new agreement makes Yingli Green Energy one of ATERSA and Elecnor's major module suppliers in terms of module shipments.

"The new agreement with ATERSA marks another milestone in our development in the market of Spain, which is currently one of the fastest growing PV markets in the world," said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "This new agreement strengthens our competitive position in Spain and helps us further solidify our market position in the European market."

About Yingli Green Energy

Yingli Green Energy Holding Company Limited ("Yingli Green Energy") is one of the leading vertically integrated PV product manufacturers in China. 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 China. Additionally, Yingli Green Energy is one of the limited number of large-scale PV companies in China to have adopted vertical integration as its business model. Yingli Green Energy currently plans to gradually expand annual production capacity of polysilicon ingots and wafers, PV cells and PV modules to 400 MW by the end of 2008 and to 600 megawatts by 2010. Yingli Green Energy sells PV modules under its own brand name, Yingli Solar, to PV system integrators and distributors located in various markets around the world, including Germany, Spain, Italy, China and the United States.


With nearly 30 years experience, ATERSA, a subsidiary of the ELECNOR, is a pioneering company within the photovoltaic solar power sector in Spain. ATERSA develops, manufactures and markets all the components and equipment needed for any electrical solar system. Its production center is located in Almussafes, Valencia, with sales offices in Madrid, Valencia and Cordoba.


With a fifty year history, ELECNOR continues to be one of the central players in major infrastructure projects that are undertaken in Spain, participating in most of the major infrastructures projects that are undertaken in Spain, reinforcing its traditional high profile abroad and consolidating its permanent diversification towards other business areas.

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