Yingli Solar (aka Yingli Green Energy*), which is “the largest vertically integrated photovoltaic (‘PV’) module manufacturer in the world,” recently landed its largest order to date in Israel and the Middle East as a whole. The order is for just 27.5 MW of solar PV panels, which isn’t a ton but demonstrates that Yingli is getting its foot in the door of the young, high-potential Middle East market.
“The Company will supply its YGE 72 Cell NH Series modules to a solar power plant that will occupy more than one million square meters of land in Israel. Designated a National Infrastructure Project by the Israeli Government, the solar farm has been granted the conditional feed-in tariff approval from the Israeli Public Utilities Authority,” a press release about the news stated.
“This supply agreement builds upon our long-standing relationship with Ledico Ltd., our local distribution partner in Israel, and it also extends our presence and visibility throughout the region. We view Israel as an important and sustainable growth market with the potential to reach more than 340 MW of installed solar PV capacity in 2014. We are excited to continue supporting the region’s successful implementation of solar PV through this major supply agreement,” said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy.
*Full disclosure: I own stock in Yingli Green Energy.