22 July 2014

Yingli Solar Opens New Office in Santiago, Chile

Baoding, China and Santiago, Chile - 22 July 2014 - Yingli Green Energy Holding Company Limited, known as "Yingli Solar", has opened its third Latin American office in Santiago, Chile. Yingli has brought on Mr. Robert Muhn to serve as Managing Director of Yingli Green Energy Chile. 

The Santiago office will initially focus on the country's burgeoning utility-scale solar market segment. Thanks to its strong partnerships with leading global project developers and EPCs operating in Latin America, Yingli has already deployed more than 25 megawatts (MW) of solar modules in Chile. 

"Chile is a high-potential solar market and home to some of the strongest solar irradiation in the world, particularly in the Atacama Desert," noted Mr. Robert Muhn, Managing Director of Yingli Green Energy Chile, "While we see tremendous growth potential in Chile's utility-scale market, we also anticipate that the country's relatively high electricity prices and strong solar resources will provide a foundation for a thriving and sustainable distributed generation market in the future." 

As demonstrated by the Company's long-standing presence in the region, the South and Central American solar energy markets are a major strategic priority in Yingli's long-term global development plans. In addition to Yingli's permanent offices in Mexico City, São Paolo, and Santiago, the Company also maintains warehouses and inventory in both Mexico and Brazil, which expedite and streamline regional module deliveries. 

Led by Brazil, Chile, and Mexico, the Latin American region is expected to install over 700MW of solar panels in 2014, according to GTM Research. Industry analysts also predict that solar demand in the region will exceed one gigawatt in 2015 and achieve a 50% annual growth rate for the next several years. 

Yingli Green Energy Holding Company Limited (NYSE: YGE), known as "Yingli Solar," is the world's largest photovoltaic module manufacturer in terms of production capacity and shipments. Yingli Green Energy's manufacturing covers the photovoltaic value chain from ingot casting and wafering through solar cell production and module assembly. Headquartered in Baoding, China, Yingli Green Energy has more than 30 regional subsidiaries and branch offices and has distributed more than 9,000 MW PV modules to customers worldwide. 

Source: Yingli Green Energy Holding Company Limited