Yingli Green Energy Holding Co Ltd (ADR) (NYSE:YGE), one of the world’s leading solar panel manufacturers, has recently signed an agreement with Iberdrola, for the new product “Smart Solar Iberdrola”, the turnkey solar PV solution that Iberdrola has set up to its customers which offers the possibility to generate and consume their own electricity by installing this technology.
The signing ceremony was held at the offices of Iberdrola in Madrid, which was attended byRaquel Blanco, Director of Efficiency and Energy Services of Iberdrola, and Fernando Calisalvo, Managing Director of Yingli Green Energy Spain, a wholly owned subsidiary of Yingli.
Through this partnership, Yingli will provide Iberdrola with its extensive portfolio of solar panels, experience and best resources including technical and human, for assembly work, configuration and monitoring of equipment performance, and preventive and corrective maintenance, to make sure the systems perform as safely and efficiently as possible. Thus, installers and technicians of Iberdrola will have technical assistance and training from Yingli, ensuring that the construction and implementation of the facilities are in the best conditions of quality, speed and safety.
“We are very pleased to have the cooperation of Yingli Solar as we aim to provide a comprehensive solution that meets all the needs of a client who wants to become self-consumer electricity using PV. To do this, have one of the largest manufacturers of solar panels in the world is important,” said Raquel Blanco Director of Efficiency and Energy Services of Iberdrola.
“We are pleased to join IBERDROLA’S SMART SOLAR strategy, which is fully aligned with our downstream focus,” said Fernando Calisalvo Managing Director of Yingli Green Energy Spain. “We are committed in the promotion and development of clean energy affordable to everyone, through our expertise and high-quality products and services”.(Original Source)
Shares of Yingli Green Energy Holding closed yesterday at $4.45. YGE has a 1-year high of $24.70 and a 1-year low of $2.93. The stock’s 50-day moving average is $4.38 and its 200-day moving average is $6.35.
On the ratings front, Roth Capital analyst Philip Shen maintained a Sell rating on YGE, with a price target of $3.10, in a report issued on November 25. The current price target represents a potential downside of 30.3% from where the stock is currently trading. According to TipRanks.com, Shen has a total average return of -14.1%, a 26.1% success rate, and is ranked #3567 out of 3621 analysts.
Yingli Green Energy Holding Co Ltd along with its subsidiaries is engaged in the design, development, marketing, manufacture, installation and sale of photovoltaic products in China & overseas market.