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Yingli Green Energy will supply CTP; a Czech-based commercial property developer with PV modules since each company has signed a letter of intent.
The terms and conditions of this letter of intent state that CTP will purchase approximately 5MW of PV modules from Yingli in the fourth quarter of 2009. These modules will be used for on-grid rooftop systems in CTP's industrial parks and office centers located in the Czech Republic.
"We expect to enter into binding contracts with Yingli based upon this letter of intent in the following weeks and we look forward to pursuing additional cooperation opportunities in Central and Eastern Europe," said Mr. Remon L. Vos, Managing Director of CTP.
Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy said, "We have delivered more than 10MW PV modules to customers in the Czech Republic this year, and we believe the cooperation with CTP further demonstrates our strong ability to capture market share in emerging markets. With the gradually improving financing conditions and recovering market demand in Germany and other European markets, we are excited about the upcoming new growth cycle for solar in Europe."
