Yingli Green has been selected as a major photovoltaic module supplier to the Gold Sun Program, which is sponsored by the Ministry of Finance of China. At the end of November 2010, 272MW photovoltaic projects had been announced under the Program, to which Yingli is expected to supply approximately 70% of the PV modules required.
Under the terms of Yingli's secured sales agreements with project system owners, the company will deliver the majority of the module shipments in the second half of next year. According to the guidelines of the Gold Sun Program, the Ministry of Finance will grant 70% of subsidy to the Yingli once the sales agreements are concluded and the relevant application procedures are fulfilled; this is expected to be completed before product delivery.
“We are honored to become a major PV module supplier for the Golden Sun Program, which is a significant business milestone for our expansion in the Chinese solar market,” said Liansheng Miao, chairman and CEO of Yingli Green. “The Ministry of Finance, the Ministry of Science and Technology, the Ministry of Housing and Urban-Rural Development, and the National Energy Administration jointly hosted a meeting to further boost the utilization of renewable energy in China. In the meeting, the Chinese government declared its expectations to further expand its PV project portfolio in the next two years to reach a scale of at least 1,000MW per year after 2012.”
“As a solar pioneer based in China, Yingli Green Energy has demonstrated a firm commitment to the Golden Sun Program. The company is responding to its mission and responsibility to meet the demand for affordable renewable energy in China by supplying high quality PV products from cutting-edge technologies. In addition, we expect this strategic move in emerging markets will further reduce the dependence on the German market, thus strengthening our long-term development dynamics,” Miao concluded.
