BAODING, China, January 14, 2015 /PRNewswire/ -- Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), one of the world's leading solar panel manufacturers, known as "Yingli Solar," today announced that it completed grid connection for a 10 megawatt (MW) solar power plant in China's Hebei Province in late December 2014.
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The solar power plant is located in Fuping, a mountainous region in western Hebei Province. It will produce more than 12,000 megawatt-hours (MWh) of electricity per year, which will meet nearly one fifth of Fuping County's residential power demand. Over the project's lifetime, the clean solar power it generates will offset the consumption of approximately 4,000 tons of coal and the emission of about 11,000 tons of carbon into the atmosphere.
The project qualifies for a national feed-in tariff of 1.0 RMB (0.16 USD) per kilowatt-hour (kWh) for 20 years, as well as additional incentives from the local government during its first three years of operation. Yingli is currently in negotiations with potential buyers of the project.
"This project is a powerful example of Yingli's successful downstream strategy in China, where we have approximately 400 MW of PV projects under construction totally 2014, over 200 MW of which is expected to be completed by the first half of 2015. With the solid incentive policies now in the Chinese solar market, we were able to accelerate construction timelines for many of these projects," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "Yingli's transformation into a full-service provider of solar energy solutions is arriving at a time when public support and demand for solar power in China is at an all-time high."
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (NYSE: YGE), known as "Yingli Solar," is one of the world's leading solar panel manufacturers. Yingli Green Energy's manufacturing covers the photovoltaic value chain from ingot casting and wafering through solar cell production and solar panel assembly. Headquartered in Baoding, China, Yingli Green Energy has more than 30 regional subsidiaries and branch offices and has distributed more than 10 GW solar panels to customers worldwide. For more information, please visit www.yinglisolar.com and join the conversation on Facebook, Twitter and Weibo.
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.
For further information, please contact:
In China
Qing Miao
Vice President of Corporate Communications
Yingli Green Energy Holding Company Limited
Tel: +86 312 8929787
E-mail: ir@yingli.com
In the Americas:
Tori Clifford
Director of Marketing
Yingli Green Energy Americas Inc.
Tel: +1 415 728 0472
Email: tori.clifford@yingliamericas.com
In Europe:
Carolin Stahler
Marketing Communications Manager Europe
Yingli Green Energy Europe GmbH
Tel: +49 (0) 89 411 123 45
Email: carolin.staehler@yingli.com
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