BAODING, China, Sept. 3, 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 Namene Energy International Limited ("Namene"),
a leading renewable energy solutions developer focused on
West Africa, have formed a new
joint venture, Yingli Namene West Africa Limited ("JV" or "Yingli
Namene West Africa"). The JV aims to develop a total of 100
megawatts (MW) of utility-scale solar projects and up to 50 MW of
commercial rooftop projects in Ghana and neighboring countries over the
coming years and Yingli Europe will
serve as the JV's preferred solar panel supplier.
According to agreements between Yingli
Europe and Namene, each party holds 50% of the JV's equity.
All application procedures during the project development will be
funded by the JV's shareholders. Upon the completion of all the
application procedures, the JV will explore the financing solutions
from banks and other financial institutions to support project
construction. Yingli Namene West Africa Limited will be
headquartered in Accra, Ghana, and
its first utility-scale projects are already under development.
Construction is expected to start in 2017.
"Today's announcement marks Yingli's first investment in West
African renewable energy projects as well as the continued
expansion of our global downstream business," said Mr. Liansheng Miao, Chairman and CEO of Yingli Green
Energy. "We are pleased to partner with Namene, and believe that
our JV is positioned to quickly execute and become successful in
this market."
"As one of the world's leading solar panel manufacturers, Yingli
has the right industry capabilities, brand and expertise to
understand our local business requirements," said Mr. Patrick Lagrange, CEO of Namene Energy
International Limited. "Therefore, Yingli is an ideal partner for
us to grow our business in this fast emerging market."
"Namene is active in West
Africa and has built a team of dedicated and highly
experienced professionals with in-depth knowledge and understanding
of the energy sector in this region. Therefore, our JV with Namene
is expected to deliver significant synergies and value across the
development and installation of large-scale solar projects in
West Africa. These transactions
will provide clean, reliable and affordable energy to a country
with strong demand for power generation capacity to support further
economic growth," remarked Mr. Ralph
Schneider, Head of Commercial of Yingli Europe. "By joining forces we can
consolidate our downstream pipeline well into 2017 and beyond."
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 13 GW solar panels to customers worldwide. For more
information, please visit www.yinglisolar.com and join the
conversation on Facebook, Twitter and
Weibo.
About Namene Energy International Limited
Namene Energy International Limited ("Namene") is a developer of
renewable energy solutions with a primary market in Africa. Namene is active in the solar
photovoltaic market in Togo
(Namene Energy Togo SARL) and Ghana (under the trading name SolarGen Ghana).
Namene's core business is in project development and financing. It
brings to fruition turnkey investment programs (from site location
to obtaining all the required permits and licenses) with above
average return on investment. Namene offers investors only
"bankable" projects ready to be implemented thus eliminating
development risks. To achieve its goals, Namene has built a team of
dedicated and highly experienced professionals both in the EU and
West Africa with in-depth
knowledge and understanding of the energy sector in the
sub-region.
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
Logo -
http://www.prnasia.com/sa/2012/04/01/20120401160439160364.jpg
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/yingli-and-namene-form-joint-venture-to-develop-utility-scale-solar-projects-in-west-africa-300137536.html
SOURCE Yingli Green Energy Holding Company Limited