Yingli Green Energy Holding Company Limited
) announced that it plans to leave behind its solar footprint in
Brazil by becoming the carbon neutral sponsor for the ongoing FIFA
2014 World Cup. Yingli Green will supply 400 to 600 kilowatt (KW)
of solar power to a project that is slated to be among the largest
solar energy installation system in Brazil.
The company is teaming up with FIFA to develop the project which is
a part of the official Corporate Social Responsibility project of
the 2014 World Cup. The company has been playing its role of
offering economically sustainable solar energy solutions to
Yingli Green is taking a step forward with the practice and intends
to offset all carbon emissions produced from its onsite sponsorship
activations in Brazil during the event. The company also obtained
carbon emissions reductions certificates for its two biomass-fueled
factories in Caatinga region of Alagoas in Brazil in an effort to
preserve the country's rich biodiversity.
Few days back, FIFA divulged its plans to partner with
) eco-friendly division, BP Target Neutral, for a portfolio
low-carbon projects to be developed in Brazil. The projects
encompass different sectors of the country and Yingli Green was
chosen to be a part of the program.
Yingli Green has been collaborating with the international sports
body to secure solar legacies in the host countries of the FIFA
World Cup since 2010. Yingli Green took the mantle of being the
first Chinese renewable sponsor in the last World Cup held in South
Africa. The company delivered customized solar solutions to 20
"Football for Hope" centers across Africa via the "Football for
Hope, Energy for Hope" program.
We believe the extended alliance with FIFA could unlock new doors
to other potential solar markets in the future for Yingli Green.
However, we expect the U.S. solar producers to march into the field
very soon. The country is aggressively expanding its solar
capabilities and might prove to a tough rival bidder for
sponsorship in future World Cup tournaments.
Meanwhile, with growth opportunities gradually narrowing in the
U.S. owing to harsh tariff restrictions and in Europe due to
renewable policy uncertainties, Yingli Green has been scoring
operations in other emerging Africa, Latin America and Southeast
Asia markets. In the first quarter, almost 35% of the company solar
photovoltaic shipments were made to countries other than China,
America and Europe, up 19% sequentially.
The optimism reflected in these developing markets along with
China's effort to promote its indigenous solar industry are
expected to support Yingli Green's transition to a pure renewable
energy solution provider. The Chinese government announced that it
will double solar capacity expansion target to 70 gigawatts by 2017
from 2013 levels.
Currently, Yingli Green carries a Zacks Rank #3 (Hold). Other
better-ranked solar players include Zacks Ranked #1 (Strong Buy)
JA Solar Holding Company Ltd.
) and Zacks Ranked #2 (Buy)
First Solar Inc.
Want the latest recommendations from Zacks Investment Research?
Today, you can download 7 Best Stocks for the Next 30 Days.
Click to get this free report
BP PLC (BP): Free Stock Analysis Report
JA SOLAR HOLDGS (JASO): Free Stock Analysis
FIRST SOLAR INC (FSLR): Free Stock Analysis
YINGLI GREEN EN (YGE): Free Stock Analysis
To read this article on Zacks.com click here.