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
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SOURCE Yingli Green Energy Holding Company Limited