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BAODING, China, April 20, 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 has obtained an RMB300 million (USD48 million) financing facility for a 50 megawatt (MW) PV power plant in China. The 10-year direct financing lease for the project's development and construction was provided by CGN International Finance Leasing, a wholly-owned subsidiary of China General Nuclear Power Group (CGN).
Located in Handan City, Hebei Province, the 50 MW PV power plant is expected to generate approximately 54 million kilowatt-hours of solar electricity annually, offsetting over 50,000 tons of carbon emissions. Construction and interconnection of the project are expected to be completed by the end of May 2015.
"We are pleased to begin our relationship with CGN International Finance Leasing, and believe that our partnership is a key breakthrough for Yingli's downstream business development," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "We anticipate that more Chinese financial institutions will ramp up activities in PV project development moving forward."
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:
Qing Miao
Vice President of Corporate Communications
Yingli Green Energy Holding Company Limited
Tel: +86 312 8929787
E-mail: ir@yingli.com
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