Yingli Green Energy Holding Company Limited (NYSE: YGE) has announced that its wholly-owned subsidiary, Yingli Green Energy Australia, has entered into a sales framework agreement (Agreement) with L&H Solar + Solutions, a subsidiary of L&H Group, the largest electrical wholesaler in Australia and New Zealand.
According to the Agreement, L&H Solar + Solutions will distribute Yingli Green Energy's flagship monocrystalline PV modules, PANDA Series, and the high-performing multicrystalline PV modules, YGE Series, through its network of more than 200 electrical wholesale outlets, as well as to over 30,000 electrical contractors and solar partners across Australia and New Zealand. Both the PANDA and YGE Series modules offer superior performance efficiency, helping residential and commercial owners achieve high energy outputs and a greater return on investment.
"This Agreement creates a powerful new alliance in Australia and New Zealand's solar energy market, leveraging Yingli Green Energy's strength as the world's largest PV module manufacturer and L&H Group's industry knowledge and expansive customer base in the electrical market," said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy.
"As part of the largest electrical distribution group globally, we are excited about partnering with Yingli Green Energy. Already an integral global partner, the addition of Yingli Green Energy to our offer in Australia and New Zealand will further extend our great value to our customers and make our offer second to none," said Mr. Claude Picinali, General Manager of L&H Solar + Solutions.
"We are proud to be working with L&H Solar + Solutions, a company with a history that extends as far back as the days when electricity was first deployed in Australia. Our Agreement will substantially increase Yingli Green Energy's market penetration," said Mr. Daman Cole, Commercial Director of Yingli Australia. "This partnership was a logical step as we see enormous synergy between our brands. We are both focused on improving quality standards across the solar industry, as well as increasing electricity yields and ROI for our customers."