Jan 2 2014
Yingli Green Energy Holding Company Limited ("Yingli Green Energy" or the "Company"), the largest vertically integrated photovoltaic ("PV") module manufacturer in the world, known as "Yingli Solar", today announced that its wholly-owned subsidiary, Yingli Energy (China) Company Limited ("Yingli China"), has entered an agreement ("Agreement") to establish a joint venture ("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"), which is China's third largest state-owned coal mining enterprise.
The Joint Venture will develop and construct solar power plants in Shuozhou city, Shanxi province.
The Joint Venture is a sign of Yingli China and Datong Coal Mine Group's strong partnership. Previously, the two companies cooperated on a 20 MW utility-scale project located in Shanxi Province's Tashan circular economic park, in which Yingli China served as both module supplier and EPC.
"We are very pleased to deepen our strategic partnership with Yingli Green Energy, a worldwide PV industry leader. Our Joint Venture echoes the national target for the building of a beautiful China and will help to meet our national targets for clean electricity generation. Additionally, the Joint Venture is in line with the strategy of Datong Coal Mine Group's sustainable development," commented Mr. Chengsheng Li, the Chairman of the Joint Venture and Shuozhou Coal Power.
"We are delighted to enhance the cooperation with Datong Coal Mine Group through our new Joint Venture," said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "This partnership provides Yingli Solar with a strategic avenue to expand our domestic downstream business. By leveraging advantages of both companies, we will be able to accelerate the project development and bring significant benefits to all parties involved."
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (NYSE: YGE), known as "Yingli Solar," is the world's largest photovoltaic module manufacturer in terms of production capacity and shipments. Yingli Green Energy's manufacturing covers the photovoltaic value chain from ingot casting and wafering through solar cell production and module assembly. Headquartered in Baoding, China, Yingli Green Energy has more than 20 regional subsidiaries and branch offices and has distributed more than 7,000 MW PV modules to customers worldwide. For more information please visit www.yinglisolar.com and join the conversation on Facebook, Twitter and Weibo.
About Datong Coal Mine Group
Datong Coal Mine Group Co., Ltd., (Datong Coal Mine Group) is China's third largest state-owned coal mining enterprises, only behind Shenhua Group Corporation Limited and China Coal. Datong Coal Mine Group is located in the southwest part of Datong City, and its coal mines mainly scattered in Shanxi Province and Inner Mongolia Autonomous Region. Now it takes coal production as its mainstay and features the simultaneous development of a variety of industries such as power, coal chemical, metallurgy and coal machinery manufacturing and construction, etc. The predecessor of the company is Datong Coal Mining Administration, which was established in 1949 and restructured as the Datong Coal Mine Group, Co., Ltd. in 2000. For more information please visit www.dtcoalmine.com.