Source: PR Newswire
NEW YORK JETS AND YINGLI SOLAR ANNOUNCE COMPLETION OF NFL'S LARGEST SOLAR POWER SYSTEM AT TEAM HEADQUATERS
Syncarpha Capital, Evolution Energies, and SunDurance Energy Selected for 690kW Project at Atlantic Health Training Facility
Yingli Green Energy Holding Company Limited (NYSE: YGE), a leading solar energy company and one of the world's largest vertically integrated photovoltaic manufacturers, which holds the brand "Yingli Solar," and The New York Jets today announced the completion of a solar power system at the Jets' team headquarters and training center in Florham Park, NJ. This is the largest photovoltaic (PV) installation at a NFL team headquarters, utilizing over 3,000 Yingli Solar panels. Syncarpha Capital, the system owner, selected SunDurance Energy, LLC for the turnkey design and construction of the project, and partnered with Evolution Energies, LLC as the project developer. All of the power generated by the system will be sold to The New York Jets under a long-term Power Purchase Agreement (PPA).
"The New York Jets are excited to be at the forefront of incorporating solar energy into the NFL. When we decided to add solar energy to the Atlantic Health Training Center, going green was the catalyst," said Thad Sheely, New York Jets' Executive Vice President of Finance and Stadium Development. "This project is the first of many green initiatives on behalf of the team, and we are proud to be green in color and also in deed. We chose the right partners and are thrilled about what this installation will do for our organization, our community, and hopefully for inspiring the entire league."
"We are excited to have formed a long-term partnership with the New York Jets, and to align our brand with the most popular sport in America," said Robert Petrina, Managing Director of Yingli Green Energy Americas. "We commend the Jets for their commitment to renewable energy, as well as the dedication of Syncarpha Capital and SunDurance Energy to make this project a reality - it's truly a winning combination."
The Atlantic Health Training Center solar installation also marks another prominent solar success for the state of New Jersey, which is currently a U.S. leader in solar energy, second only to California. Designed to generate over 750,000 kilowatt-hours of electricity for the building each year, the project will reduce CO2 emissions by 540 metric tons each year, which is equivalent to taking over 100 cars off the road. By utilizing a power purchase agreement, the team will also save tens of thousands of dollars each year in electricity expenses with no capital outlay.
"Syncarpha Capital welcomes the opportunity to partner with the New York Jets, a visionary sports franchise and role model of corporate sustainability, as its long term provider of zero carbon power. Today's announcement is evidence of our exemplary partnership and ideally provides direction for all other professional sports franchises," commented Cliff Chapman, Co-Managing Partner and Co-Founder of Syncarpha Capital.
Work began at the Training Center in late June, and the project was generating power approximately eight weeks later.
"We're proud to have finished this project on-budget, and on-schedule, just in time for the NFL season," said SunDurance Energy CEO, Al Bucknam. "Designing and building a solar project that will stand the test of time requires the same commitment to execution excellence that is required for success in the NFL. The New York Jets demand the very best from themselves and from their partners, and we appreciate the opportunity to be a part of this stellar team."
Additionally, Nautilus Solar Energy, LLC, a privately owned independent power producer headquartered in Summit, New Jersey, will provide ongoing asset management services.
About Yingli Green Energy
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. Currently, Yingli Green Energy maintains a balanced production capacity of over 600 MW per year. Two capacity expansion projects of 300 MW and 100 MW located in Baoding and Hainan, respectively, have both started initial production in early July 2010, and are expected to bring Yingli Green Energy's total capacity to 1 GW by the end of the third quarter of 2010. In addition, Yingli Green Energy's in-house polysilicon plant, Fine Silicon, which has a designed annual production capacity of 3,000 metric tons, has successfully started commercial operation in early August 2010. Yingli Green Energy distributes its photovoltaic modules to a wide range of markets, including Germany,Spain, Italy, Greece, France, South Korea, China and the United States. Headquartered in Baoding, China, Yingli Green Energy has more than 7,000 employees and more than 10 subsidiaries and branch offices worldwide. Yingli Green Energy is publicly listed on the New York Stock Exchange (NYSE: YGE). For more information, please visit http://www.yinglisolar.com .
About Syncarpha Capital
Syncarpha Capital is an investment company that develops or acquires, owns and operates rooftop or ground mounted solar power plants in the United States and Canada under long-term contracts with creditworthy counterparties. Headquartered inNew York, Syncarpha provides solar PPAs that immediately reduce electricity bills without any capital investment or maintenance costs for commercial/industrial companies, municipalities, schools and utilities. For more information, please visithttp://www.syncarpha.com .
About Evolution Energies, LLC
Evolution Energies is a renewable energy company focused on the development, financing, acquisition and ownership of commercial and utility scale solar energy facilities. Evolution Energies aims to develop a diverse portfolio of solar energy assets that are designed, installed, operated and maintained to ensure sustainability and profitability. For more information, please visithttp://www.EvolutionEnergies.com .
About SunDurance Energy, LLC
SunDurance Energy, LLC is a solar energy company that develops, designs, builds and operates megawatt-scale solar power solutions for the commercial & industrial, federal & government, and utility-scale markets. An affiliate of The Conti Group, SunDurance Energy is a leading solar provider with high-profile projects at Rutgers University, William Patterson University, the NY Jets training facility, and much more. For more information please visit http://www.SunDuranceEnergy.com .
About Nautilus Solar Energy, LLC
Founded in 2006, Nautilus Solar is a leading independent solar power producer headquartered in Summit, New Jersey. Nautilus Solar develops, constructs, finances, owns and operates distributed generation and utility-scale solar electric systems. The company sells its generated electricity through long term power purchase agreements. Nautilus Solar is majority-owned by an investment affiliate of Starwood Energy Group Global, LLC, based in Greenwich, Connecticut. Nautilus Solar is in the process of completing the largest solar energy facility at a university in the U.S. with the commissioning of the 3.5MW solar facility at William Paterson University in Wayne, New Jersey. For more information, please visit the website athttp://www.nautilussolar.com .
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Yingli Green Energy's control, which may cause Yingli Green Energy's actual results, performance or achievements to differ materially from those in the forward- looking statements. Further information regarding these and other risks, uncertainties or factors is included in Yingli Green Energy's filings with the U.S. Securities and Exchange Commission. Yingli Green Energy does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.