DuPont (Wilmington, Del.; www.dupont.com) and Yingli Energy Co. (Yingli China; Baoding, China; www.yinglisolar.com) have signed a $100-million strategic agreement for photovoltaic materials aimed at accelerating the adoption of solar energy to address one of the world’s biggest challenges — reducing dependence on fossil fuels. Yingli China is a wholly owned subsidiary of Yingli Green Energy Holding Company Ltd. (Yingli), a leading solar energy company and one of the world’s largest vertically integrated photovoltaic manufacturers.
The agreement was signed in a ceremony in Washington, D.C., which was organized by the U.S. Dept. of Commerce and the Ministry of Commerce People’s Republic of China, and hosted by the U.S. Chamber of Commerce. Under the terms of the agreement, Yingli will purchase photovoltaic materials and protective backsheet for solar modules. DuPont achieved about $1.4 billion in sales to the photovoltaic market in 2011, and has set a goal to reach $2 billion in sales by 2014, based on continued, strong demand for its products.