Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli" or "Yingli Solar"), one of the world's leading solar panel manufacturers, announced that its wholly owned subsidiary, Yingli Green Energy Europe, S.L. ("Yingli Europe") has signed an agreement with Jenner Renewables, to provide Engineering, Procurement and Construction (EPC) services for 12 ground-mounted PV plants in Chile, with the total capacity of 146MW.
According to the agreement, the project is divided in 2 phases: Cluster 1 includes 4 PV plants and the construction will begin in February 2018 with expected operation by June 2018; Cluster 2, including 8 PV plants, will begin by the completion of Cluster 1. As the EPC contractor and exclusive solar panel supplier for the project, Yingli will supply its multicrystalline modules type YL325P-35B. Upon completion, each PV plant is anticipated to avoid 20.8 tons of CO2 per year.
"As an independent power producer operating throughout Latin America, we are very excited to contribute in such a significant way to the development of renewable energy in Chile. This country is at the forefront of implementing a carbon free electricity system by 2040 and our projects definitely support this strategy," said Jorge Calvet, Founder and CEO of Jenner Renewables. "This is part of our renewable energy pipeline of 1,500 MW, which we intend to develop over the next 3-4 years in Chile, Mexico, Colombia, Argentina and other countries in the region."
"We are proud to partner with Jenner Renewables on such a significant project, which is the largest EPC project that Yingli undertook independently. In addition to focusing on our historical customers, such as EPC contractors and project developers, we are also seeking opportunities in some specific countries or cooperation with some specific partners to provide EPC services, which we believe could bring higher added value to our high quality products and therefore increase our service level," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli.
"We are delighted to secure this EPC, which proves the adequate service level, competitive advantage and capabilities from Yingli Solar. This contract is a milestone for us in Latin American region and we will continue to develop the business unit and strengthen our local presence. The framework agreement within both companies includes a pipeline above 1GW, which demonstrates the trust and commitment between Yingli and Jenner Renewables," said Mr. Fernando Calisalvo, the Managing Director of Yingli Europe.
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