China's Yingli Green Energy Awarded Solar Module Contract by Spain's MAETEL

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Researched by Industrial Info Resources (Sugar Land, Texas)--Chinese photovoltaic (PV) product manufacturer Yingli Green Energy Holding Company Limited (NYSE:YGE) (Yingli) (Baoding, China) announced in a May 17 press release that it had signed a sales contract with leading Spanish engineering, procurement and construction (EPC) company Maessa Telecomunicaciones, Ingenieria, Instalaciones Y Servicios SA (MAETEL) (Zaragoza, Spain) for the supply of PV modules to the company.

According to the agreement, Yingli will sell 33 megawatts (MW) of solar PV modules to MAETEL. The delivery period will be from the beginning of October this year to April 2011.

The PV modules would be installed in a PV solar power facility in Curbans, in the Provence-Alpes-Cote d'Azur region of southeast France. The owner and operator of the facility is leading natural gas and electricity supplier GDF Suez SA (EPA:GSZ) (Paris, France).

According to GDF Suez forecasts, the new PV unit in Curbans will be the largest PV power plant in France, with an installed production capacity of 43.5 million kilowatt-hours per year of renewable energy. GDF Suez added that this is comparable to a yearly consumption of electricity by 14,500 homes for all purposes except heating. Compared to a fuel oil-powered plant, the plant will reduce carbon-dioxide emissions by nearly 120,000 tons per year.

Yingli Green Energy Chairman and Chief Executive Officer Liansheng Miao said in the press release, "We are pleased to announce this exciting cooperation with MAETEL. This contract provides more positive visibility into the demand momentum in the emerging European solar markets. Moreover, we are glad to see that our customers in existing markets are actively exploring market opportunities beyond their domestic scope, which will help us further diversify our market exposure."

Yingli, which prides itself on its solar PV brand Yingli Solar, is reportedly one of the world's biggest PV manufacturers in the vertically integrated segment. The company is involved in manufacturing polysilicon from cast ingots and wafers, production of solar power cells, and the assembly of solar power modules. The company has an installed capacity of 600 MW and is in the process of expanding its manufacturing capacity by 300 MW and 100 MW in the Baoding and Hainan regions, respectively, and plans to reach more than 1,000 MW of capacity by the end of 2010. The company sells products in markets spanning the globe, including Germany, Spain, Italy, Greece, France, South Korea, China and the U.S.

MAETEL is a subsidiary of one of Europe's leading infrastructure and development firms, Actividades de Construccion y Servicios SA (MCE:ACS) (Madrid, Spain). MAETEL is mainly involved in the generation and distribution of electrical power, in the renewable energy sector, as well as in engineering and installations related to the industrial and telecommunications sector.

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