Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), a leading solar energy company and one of the world's largest vertically integrated photovoltaic (PV) manufacturers, which markets its products under the brand "Yingli Solar," announced today that its U.S. subsidiary, Yingli Green Energy Americas, Inc. ("Yingli Americas"), has formed a strategic partnership with GRID Alternatives, a nonprofit solar installer whose mission is to empower communities in need by providing renewable energy and energy efficiency services, equipment and training. Under the terms of the agreement, Yingli Americas will provide the largest donation in GRID Alternatives' history, and will become the organization's official solar module provider
Combined with a network of community volunteers and green job trainees, Yingli Americas and GRID Alternatives will work together to install 1 MW of solar energy systems for 400 low-income families during 2011 using a combination of donated modules and modules purchased from Yingli at fair market value. These solar energy systems will generate $10 million worth of renewable energy over their lifespan, while eliminating 40,000 tons of greenhouse gas emissions. In addition, the projects will provide hands-on job training opportunities in solar PV installation to thousands of individuals looking to enter the solar workforce, through direct participation in the installations.
"GRID Alternatives is grateful to Yingli for helping us make solar power available to the working families that need the savings the most, while helping build the clean energy workforce of the future. We are also proving that if solar is a viable technology for low-income families, it can work for anyone anywhere," said Erica Mackie, Executive Director and Co-Founder of GRID Alternatives. "We are thrilled to announce this partnership – which is the first of its kind in our organization's history – and commend Yingli Americas for their vision and dedication to helping disadvantaged communities in the US."
"Social responsibility is a key pillar in our mission, and we're very proud to announce this partnership with GRID Alternatives," said Robert Petrina, Managing Director of Yingli Americas. "At Yingli, we believe in making solar power an affordable option for everyone, and addressing our local underserved communities is an important step in achieving this -- we're delivering clean energy and job training where it's required most."
Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy, commented, "We have a long-standing commitment to global social responsibility and to improving the lives of our future generations. That's why we seek out collaborations such as this one with GRID Alternatives in order to make a tangible difference."
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