In order to strengthen its business practices in Southeast Asia, Yingli Green Energy has set up a wholly-owned subsidiary, Yingli Green Energy Singapore Company Pte. Limited ("Yingli Singapore"). The company says this new office “will drive sales and further business development for the company in Southeast Asia”.
"We are pleased to announce the opening of our regional headquarters in Singapore," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "Singapore is a talent hub for clean technology and a favourable environment to expand the adoption of solar energy. Given our track record of global successes and the strong support from the Singapore Economic Development Board, we expect to penetrate deeper into this region with our new location. In addition, we plan on building a research and development center in Singapore, which will focus on the development of PV products that are best suitable for island climates."
"We warmly welcome Yingli Green Energy's decision to establish its regional headquarters and R&D centre in Singapore. This investment will add to the vibrancy of our solar ecosystem and strengthen the development of Singapore as a global clean energy hub. It also affirms how Singapore is viewed increasingly as the internationalization platform for clean energy companies," said Mr Yeoh Keat Chuan, Assistant Managing Director, Singapore Economic Development Board.
Yingli Green Energy's manufacturing covers the entire photovoltaic value chain, from the production of polysilicon through ingot casting and wafering, to solar cell production and module assembly. Currently, Yingli Green Energy maintains a balanced vertically integrated production capacity of over 1 GW per year. Two capacity expansion projects of 600 MW and 100 MW are under construction in Baoding and Hainan, respectively, which are expected to start initial production in the middle of 2011 and will increase the company's total nameplate capacity to 1.7 GW in late 2011.
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