Yingli Solar, manufacturers of PV modules, has opened their third office in Santiago extending their operations to Latin Americas.
Yingli Solar is a subsidiary firm of Yingli Green Energy.
Robert Muhn will serve as the managing director of Yingli Green Energy in Chile. The Santiago office will initially focus on the country’s utility-scale solar market segment. Muhn will be responsible for investing on supply of PV modules to solar plants in Latin America.
Already, Yingli has deployed 25 MW of solar modules in Chile in partnership with a number of project developers and EPCs operating in Latin America.
Chile is a potential market and has some of the strongest solar irradiation in the world like Atacama Desert. Growth opportunities are seen in Chile’s utility-scale market and the high electricity price and strong solar resources will be other helping factors to build the foundation for a sustainable market in future, noted Robert Muhn.
Due to Company’s long term association, the South and Central American solar energy markets are major strategic priority in Yingli’s development plans. Yingli owns offices in Mexico City, São Paolo and Santiago and maintains warehouses in Mexico and Brazil in order to streamline module deliveries of the region.
Jeffrey Barnett, vice president, International Sales, Yingli Green Energy, Americas, explained, “Our continued investments in Latin America are a reflection of the confidence in this key emerging market’s long-term growth potential. 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.”
The Latin American region is expected to install over 700MW of solar panels in 2014 initiated by Brazil, Chile. The solar demand in the region is expected to exceed 1 GW in 2015 with a 50 percent annual growth rate in future.