BAODING, China, Nov. 2, 2015 /PRNewswire/ -- Yingli Green Energy Holding Company Limited ("Yingli" or "Yingli Solar") (NYSE:YGE), one of the world's leading solar panel manufacturers, today announced that its wholly owned subsidiary, Yingli Green Energy Europe GmbH ("Yingli Europe") has partnered with Motif Proje ve Insaat Ltd. Sti ("Motif Proje"), one of Turkey's first renewable energy consulting partners, to develop a 20 megawatt (MW) PV project pipeline in Turkey. Motif Proje focuses on developing solar projects and has already implemented several reference projects in the region.
The two companies' first jointly developed 10 MW project portfolio is located across 4 sites covering approximately 18 hectares in western Turkey. Development is now underway and construction is expected to begin in Q2 of 2016. Yingli and Motif Proje also intend to collaborate on an additional 10 MW pipeline in Turkey, which they expect to complete by the end of 2016.
"Turkey is an extremely promising market for solar project development due to its growing demand for electricity, large population of over 75 million people, and high levels of solar irradiation. There are currently 200 MW of PV projects under construction and additional 5 GW under application in Turkey," said Mr. Anian Schreiber, Turkey Project Manager of Yingli Europe. "With the support of Motif Proje, we can rapidly scale our development activities in this high-potential market."
"We are delighted to partner with Yingli because of their expertise and strong track record of success in entering emerging markets as both a developer and PV supplier," said Mr. Deniz Selkan Polatkan, Managing Director of Motif Proje. "Yingli is an ideal partner in our mission to build a sustainable solar business in Turkey. We are confident that patient and sustainable companies will be successful in the Turkish PV market."
"Motif Proje's deep understanding of the local market and country requirements will help Yingli strategically grow its presence in Turkey," commented Mr. Liansheng Miao, Chairman and CEO of Yingli Green Energy. "We are pleased to collaborate Motif Proje and look forward to further expanding our joint project pipeline."
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (NYSE: YGE), known as "Yingli Solar," is one of the world's leading solar panel manufacturers. Yingli Green Energy's manufacturing covers the photovoltaic value chain from ingot casting and wafering through solar cell production and solar panel assembly. Headquartered in Baoding, China, Yingli Green Energy has more than 30 regional subsidiaries and branch offices and has distributed more than 14 GW solar panels to customers worldwide. For more information, please visit www.yinglisolar.com and join the conversation on Facebook, Twitter and Weibo.
About Motif Proje ve insaat Ltd. Sti.
Motif Proje was founded in 1995 in Turkey as one of the first consulting partners for renewable energy and has established a specialized engineering company dedicated to facilitating the rapid development of renewable energy in Turkey. Motif Proje has already successfully developed over 20 MW of projects across Turkey and continues to explore the promising license-free sector for projects of less than 1 MW.
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Yingli Green Energy's control, which may cause Yingli Green Energy's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in Yingli Green Energy's filings with the U.S. Securities and Exchange Commission. Yingli Green Energy does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
For further information, please contact:
Vice President of Corporate Communications
Yingli Green Energy Holding Company Limited
Tel: +86 312 8929787
In the Americas:
Director of Marketing
Yingli Green Energy Americas Inc.
Tel: +1 415 728 0472
Marketing Communications Manager Europe
Yingli Green Energy Europe GmbH
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SOURCE Yingli Green Energy Holding Company Limited