Yingli Green Energy (YGE) announced at the North American Intersolar conference today that it will provide 15MW of solar modules to Kaiser Permanente hospitals and office facilities across California. They will deliver around 65K modules over the next year to Swinerton Renewable Energy which is the designer and installer of the solar power systems. Recurrent Energy will own and operate the 16 power systems. No word on the financials of the deal.
===> Click Here For Your FREE Yingli Green Energy Analysis
“We are expanding our business across all major solar markets and have become one of the leading module suppliers in the United States,” said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. “As today’s announcement demonstrates, we continue to be selected for some of the nation’s most visible and exciting solar projects.”
YGE shares are up about 2% in premarket trading, but will soon face tough resistance of the 200 day moving average around the 12.50 area.
It’s great that Kaiser is going green, but why in the world did Kaiser allow this company to install Yingli solar panels on their facilities ? Yingli, one of hundreds of Chinese companies with little history when compared to other established brands, is a relative newcomer to the solar industry that did not even reach 50 megawatts worth of production until 2009. Their are many trusted, well established brands such as Mitsubishi, Sharp and Solarworld, that have decades worth of experience in the industry and are priced just as competitively as Yingli. Keep in mind that solar panels have a 25 year warranty, why not choose companies that have proven themselves by being around longer than the warranties that they offer ?