Yingli and R.Power Expand Joint Project Pipeline in Poland to 60 MW

30 Nov, 2015, 06:40 ET from Yingli Green Energy Holding Company Limited

BAODING, China, Nov. 30, 2015 /PRNewswire/ -- Yingli Green Energy Holding Company Ltd. ("Yingli" or "Yingli Solar") (NYSE: YGE), one of the world's leading solar panel manufacturers, today announced that its wholly owned subsidiary, Yingli Green Energy Europe GmbH ("Yingli Europe") and R.Power Sp. z o.o. ("R.Power"), a leading Polish renewable energy project developer formerly known as AMB ENERGIA, have agreed to expand their joint project development pipeline in Poland from 30 to 60 megawatts ("MW").

As an extension of the two companies existing partnership, Yingli Europe and R. Power aim to develop a total of 60 MW of ground-mounted projects in Poland to be ready for inclusion into the auction systems in 2016 and 2017. According to the companies' agreements, each party will hold 50% of the projects with the intention of selling them to investors once operational. Development of the projects is well underway with the first bundle of projects already at advanced stages.

"The extension of this strategic partnership exemplifies Yingli Europe's successful global downstream project development business and strategy, which centers on identifying strong local partners to collaborate with in key regions of the world for project opportunities," said Mr. Manuel Seiffe, Poland Project Director of Yingli Europe.

"We are very pleased to extend our partnership with Yingli, one of the world's PV industry leaders. This joint venture is an ideal set-up to co-develop, implement and commission projects across Poland. Yingli understands the complex development process and local business requirements as well as global energy trends and is an ideal partner for us to grow our business and to promote the benefits of solar energy in Poland," commented Mr. Przemyslaw Pieta, Chief Executive Officer of R.Power.

"R.Power is already a leader in developing PV and wind projects in Poland and has one of the largest portfolios of PV projects in the country. It has built up a team of highly experienced professionals with in-depth knowledge of the Polish energy sector," commented Mr. Liansheng Miao, Chairman and CEO of Yingli. "Together, we can expedite the deployment of solar, support Poland reaching its EU targets, and expand our footprint in the country."

Poland's renewable energy capacity is expected to grow in light of the European Union emissions rules, in which Poland aims to have renewable sources account for 15% of its energy by 2020. According to the plans by the Polish Ministry of Economy, a total of 11GW of RES installations shall be added by 2020. Whereas wind will most likely play the dominant role in next year's auction, solar PV will capture a significant portion of the awarded renewable energy projects.

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 14 GW solar panels to customers worldwide. For more information, please visit www.yinglisolar.com and join the conversation on Facebook, Twitter and Weibo.

About R.Power

R. Power Sp. z o.o. is one of the pioneers in the field of photovoltaics in Poland and today it is a leading player in the development of PV project portfolio, consisting of over 150 sites. Reaching ready-to-build status for several projects has helped the company gain unique experience in the development of complex solar energy projects. Additionally R.Power sp. z o.o. prides itself on being the operator and owner of the biggest privately owned solar farm in Poland -- the Podlasie Solar Park, which comprises of 4 PV plants located in north-east Poland (Kolno, Jedwabne, Lipsk, Zagroby) with a total capacity of nearly 4 MWp.

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 Email: pr.eu@yingli.com

SOURCE Yingli Green Energy Holding Company Limited



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