BAODING, China, June 15, 2015 /PRNewswire/ -- Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli") (NYSE:YGE)*, one of the world's leading solar panel manufacturers, known as "Yingli Solar," today announced that it has connected its 50 MW PV power plant, located in Hebei Province, China, to the utility grid.
The 50 MW PV power plant is the first and largest power plant in Handan City, Hebei Province. It is expected to produce approximately 54 million kilowatt-hours of solar electricity each year, offsetting about 50,000 tons of carbon emissions annually. The project is also expected to generate annual revenue of RMB 54 million ($8.7 million USD) from national feed-in-tariffs for the next 20 years.
The project has obtained a 10-year, RMB 300 million (USD 48 million) financing facility from CGN International Finance Leasing, a wholly-owned subsidiary of China General Nuclear Power Group (CGN). Yingli is also negotiating with a third party for the transfer of the project, which is expected to be completed in the second half of 2015.
"With this 50 MW project, Yingli has now successfully connected approximately 180 MW of projects to the utility grid. We plan to accelerate our downstream activities moving forward to both expand and diversify our revenue sources," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy.
*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 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:
Vice President of Corporate Communications
Yingli Green Energy Holding Company Limited
Tel: +86 312 8929787
E-mail: [email protected]
In the Americas:
Director of Marketing
Yingli Green Energy Americas Inc.
Tel: +1 415 728 0472
Email: [email protected]
Marketing Communications Manager Europe
Yingli Green Energy Europe GmbH
Email: [email protected]
SOURCE Yingli Green Energy Holding Company Limited