Commitment to Supply Growing Solar Market Underscores Aim to Reduce Global Dependence on Fossil Fuels
WILMINGTON, Del. - DuPont and Yingli Energy (China) Company Limited ("Yingli China") have signed a $100 million strategic agreement for photovoltaic materials aimed at accelerating the adoption of solar energy to address one of the world's biggest challenges - reducing dependence on fossil fuels. Yingli China is a wholly owned subsidiary of Yingli Green Energy Holding Company Limited ("Yingli"), a leading solar energy company and one of the world's largest vertically integrated photovoltaic manufacturers.
The agreement was signed in a ceremony today in Washington, D.C., which was organized by the U.S. Department of Commerce and the Ministry of Commerce People's Republic of China, and hosted by the U.S. Chamber of Commerce. Under the terms of the agreement, Yingli will purchase photovoltaic materials including DuPont(TM) Solamet® photovoltaic metallization pastes used in solar modules and protective backsheet for solar modules made with DuPont Tedlar® polyvinyl fluoride film.
"At Yingli, we have a long-standing commitment to global social responsibility to make solar energy an affordable option for everyone," said Liansheng Miao, chairman and chief executive officer, Yingli. "The agreement we have signed with DuPont assures our supply of critical, high-quality materials and our continued collaboration on further technological advances to optimize the performance of our solar modules, which illustrates our mission to be a cost leader and provide the best product to customers at the same time."
"This agreement expands a current commercial relationship between DuPont and Yingli into a more strategic relationship with long-term benefit to both companies, and to end users of solar energy," said David B. Miller, president, DuPont Electronics & Communications. "Materials are key to solar module performance, and DuPont continues to advance the science behind them. They help increase efficiency, extend the lifetime of modules, and, ultimately, help reduce overall system costs to make solar increasingly more competitive with other forms of energy generation."
According to industry estimates, over the next five years, 20 percent average annual growth is expected in solar installations globally.
DuPont achieved about $1.4 billion in sales to the photovoltaic market in 2011, and has set a goal to reach $2 billion in sales by 2014, based on continued, strong demand for its products.
Yingli Green Energy Holding Company Limited (NYSE: YGE), which markets its products under the brand "Yingli Solar," is a leading solar energy company and one of the world's largest vertically integrated photovoltaic manufacturers. 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. For more information, please visit www.yinglisolar.com.
DuPont Solamet® photovoltaic metallizations and Tedlar® polyvinyl fluoride films are part of a broad and growing portfolio of products represented by DuPont Photovoltaic Solutions, which connects science and technology from across the company on a global scale to help support the dramatic growth in the photovoltaic industry. To learn more about DuPont Photovoltaic Solutions, visit photovoltaics.dupont.com.
DuPont (NYSE: DD) has been bringing world-class science and engineering to the global marketplace in the form of innovative products, materials, and services since 1802. The company believes that by collaborating with customers, governments, NGOs, and thought leaders we can help find solutions to such global challenges as providing enough healthy food for people everywhere, decreasing dependence on fossil fuels, and protecting life and the environment. For additional information about DuPont and its commitment to inclusive innovation, please visit www.dupont.com.
The DuPont Oval Logo, DuPont, The miracles of science(TM), Solamet® and Tedlar® are registered trademarks or trademarks of DuPont or its affiliates.
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