BAODING, China, June 3, 2015 /PRNewswire/ -- Yingli Green Energy Holding Company Limited ("Yingli") (NYSE:YGE)*, one of the world's leading solar panel manufacturers, today announced that its joint venture with Shuozhou Coal Power Co., Ltd. ("Shuozhou Coal Power"), a wholly-owned subsidiary of Datong Coal Mine Group Co., Ltd. ("Datong Coal Mine Group") has connected a 50 megawatt solar power plant that it developed to the utility grid in Shanxi province, China. Yingli holds a 30% equity stake in the joint venture, which was created to develop and construct utility-scale solar projects in Shuozhou City, one of Shanxi province's largest cities.
Based on internal system performance estimates, the project is expected to yield annual revenues of RMB 64 million ($10.3 million USD) from national feed-in-tariffs each year for the next 20 years. The system contains approximately 170,000 multicrystalline Yingli Solar panels, and the electricity they generate is expected to offset about 77,000 tons of carbon emissions annually.
"We are pleased that our JV with Datong Coal Mine Group has connected this major project in Shanxi province, a region that has directly experienced the serious, negative ecological consequences of coal mining and combustion. Our new solar power plant is a boon to the local environment as well as to the local economy," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli.
*Yingli Green Energy Holding Company is also known as "Yingli Green Energy" and markets its products under the brand name "Yingli Solar." |
About Yingli Green Energy
Yingli is one of the world's leading solar panel manufacturers. Yingli'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 has more than 30 regional subsidiaries and branch offices and has distributed more than 13 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's control, which may cause Yingli'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's filings with the U.S. Securities and Exchange Commission. Yingli 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
Email: carolin.staehler@yingli.com
