Yingli Green Energy and GRID Alternatives renew long-standing partnership
Thursday, Feb 28, 2013
BAODING, China and OAKLAND, Calif., Feb. 27, 2013 /PRNewswire/ -- Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), a leading solar energy company that markets its products under the brand "Yingli Solar," today announced that its U.S. subsidiary, Yingli Green Energy Americas, Inc. ("Yingli Americas") has renewed its strategic partnership with GRID Alternatives ("GRID"), a non-profit solar installer that brings renewable energy to low-income communities.
Yingli Green Energy originally teamed up with GRID Alternatives in 2011, when it became GRID's first and largest official solar module supplier. By the end of this year Yingli Green Energy will have supplied almost 4 MW of donated and fair-market value solar modules to GRID. The Partnership will help nearly 1,200 low-income families go solar across California and Colorado, saving them an estimated $30 million over the systems' lifetimes. In addition, by the end of 2014, thousands of solar job trainees will have accrued 150,000 hours of hands-on experience installing PV projects using Yingli Solar modules.
Helena Kimball, Head of Marketing for Yingli Americas, said, "We first decided to partner with GRID Alternatives because their mission so closely reflects our own: to provide affordable green energy for all. We are proud to have already given nearly 1,000 U.S. families the help they need to lower their utility bills and to put those cost savings towards a better future. We commend GRID for their dedication, their team, and their success – it's a fantastic partnership."
GRID Alternatives' mission is to empower communities in need by providing renewable energy and energy efficiency services, equipment, and professional training. Since 2004, more than 3,000 low-income families have received no- or low-cost solar energy systems through GRID. While the non-profit organization's efforts were initially focused on underserved communities in California, GRID was able to expand their operations to Colorado in 2012, thanks to the support of partners such as Yingli Green Energy.
"As our first major manufacturer partner, Yingli has been an invaluable resource to help us grow both geographically and in the number of families we've been able to serve," said GRID Alternatives Co-Founder Tim Sears. "We are thrilled to have Yingli's continued partnership as we expand nationally."
"My husband had been out of work for 18 months," said Valerie Paschell of Crockett, California, one of the first low-income homeowners to receive a solar energy system using Yingli Solar modules. "I knew I wouldn't have to worry about the electricity bill. For us it's been quite a blessing."
Yingli employees have also donated their time as volunteers on GRID projects. On Saturday, February 23 rd, fifteen Yingli Green Energy employees from around the globe helped install a 3.7 kW solar energy system on the Vance family's home in the Bayview neighborhood of San Francisco, California.
"Our employees volunteer their time and energy towards projects like GRID Alternatives because we care deeply about social responsibility," said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "We truly believe that solar energy can dramatically improve the the lives of future generations, and we hope that GRID's model inspires like-minded organizations across the world to take action."
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (NYSE: YGE), which markets its products under the brand "Yingli Solar," is a leading solar energy company and one of the world's largest vertically integrated photovoltaic manufacturers. Yingli Green Energy's manufacturing covers the entire photovoltaic value chain, from the production of polysilicon through ingot casting and wafering, to solar cell production and module assembly. In August 2012, Yingli Green Energy reached a balanced vertically integrated production capacity of 2,450 MW per year at its production facilities located in Baoding, Haikou, Tianjin and Hengshui, respectively.
SOURCE Yingli Green Energy Holding Company Limited