Yingli Solar opens new office in Santiago

CHINA & CHILE: Yingli Green Energy Holding Co. Ltd has expanded its footprint in the Americas by opening the company's third Latin American office in Santiago, Chile.

To facilitate the opening of the new office and Yingli's growth in the Chilean solar market, Yingli has brought on Robert Muhn to serve as MD of Yingli Green Energy Chile. Under his leadership, the Santiago office will initially focus on the country's burgeoning utility-scale solar market segment, where Muhn will build on the company's track record of success in supplying large-scale solar plants in Latin America.

Thanks to its strong partnerships with leading global project developers and EPCs operating in Latin America, Yingli has already deployed more than 25 megawatts (MW) of solar modules in Chile.

"Chile is a high-potential solar market and home to some of the strongest solar irradiation in the world, particularly in the Atacama Desert," noted Muhn. "While we see tremendous growth potential in Chile's utility-scale market, we also anticipate that the country's relatively high electricity prices and strong solar resources will provide a foundation for a thriving and sustainable distributed generation market in the future."

As demonstrated by the Company's long-standing presence in the region, the South and Central American solar energy markets are a major strategic priority in Yingli's long-term global development plans. In addition to Yingli's permanent offices in Mexico City, São Paolo, and Santiago, the Company also maintains warehouses and inventory in both Mexico and Brazil, which expedite and streamline regional module deliveries.

"Our continued investments in Latin America are a reflection of our confidence in this key emerging market's long-term growth potential," said Jeffrey Barnett, VP of International Sales at Yingli Green Energy Americas. "Thanks to our strong team of professionals across the region, we are establishing lasting partnerships with pioneering companies to help drive the expansion of solar PV across Latin America."

Led by Brazil, Chile, and Mexico, the Latin American region is expected to install over 700MW of solar panels in 2014, according to GTM Research. Industry analysts also predict that solar demand in the region will exceed one gigawatt in 2015 and achieve a 50 percent annual growth rate for the next several years.