Baoding-based Yingli Green Energy Holding Company Limited, a vertically integrated photovoltaic product manufacturer, and CTP, a Czech-based commercial property developer, have signed a letter of intent regarding the supply of PV modules by Yingli Green Energy to CTP.
Under the terms of the letter of intent, CTP is expected to purchase approximately 5 MW of PV modules from Yingli Green Energy in the fourth quarter of 2009, and these are expected to be used for several on-grid rooftop systems in CTP's industrial parks and office centers in the Czech Republic.
Remon L. Vos, the managing director of CTP, said that the company expects to enter into binding contracts with Yingli based upon this letter of intent in the next few weeks and he look forward to pursuing additional cooperation opportunities in Central and Eastern Europe.
Liansheng Miao, the chairman and chief executive officer of Yingli Green Energy, said that they had delivered more than 10 MW PV modules to customers in the Czech Republic this year, and he believed the cooperation with CTP further demonstrated their strong ability to capture market share in emerging markets. He added that with the gradually improving financing conditions and recovering market demand in Germany and other European markets, they were excited about the upcoming new growth cycle for solar power in Europe.