BAODING, China, April 4, 2016 /PRNewswire/ -- Yingli Green Energy
Holding Company Limited (NYSE:YGE) ("Yingli
Solar" or "Yingli"), one of the world's leading solar panel
manufacturers, today announced that together with its U.S.
subsidiary, Yingli Green Energy Americas, it has reached an
agreement with the Solyndra Residual Trust ("Solyndra") to settle a
previously disclosed anti-trust and unfair trade practice lawsuit
filed in the U.S. District Court of the Northern District of
California.
According to the agreement, Yingli will make an immediate
payment of $7.5 million USD to
Solyndra, and the lawsuit against Yingli will be dismissed with
prejudice. Solyndra will also release Yingli and all of its
affiliates from any similar claims or allegations in the future. If
Yingli or any of its affiliates' total solar panel sales to the
U.S. and Canada equals or exceeds
800 megawatts (MW) in a single calendar year between 2016 and 2018,
the Company will make an additional one-time payment of
$10 million USD to Solyndra.
"While we continue to reject Solyndra's claims as baseless, our
team is satisfied with the settlement's terms and we are pleased to
conclude litigation," commented Mr. Liansheng Miao, Chairman and CEO of Yingli.
"Looking forward, we will remain focused on our mission to bring
Yingli's high-performing PV technology to communities across the
Americas that are eager to adopt affordable clean energy."
About Yingli Solar
Yingli Green Energy Holding Company Limited (NYSE: YGE),
known as "Yingli Solar" or "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 14 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's control.
Forward-looking statements involve risks, uncertainties and other
factors that could cause actual results to differ materially from
those contained in any such statements. Further information
regarding these and other risks, uncertainties or factors is
included in Yingli's filings with the U.S. Securities and Exchange
Commission. Yingli 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:
Jean Tian
Investor Relations Director
Yingli Green Energy Holding Company Limited
Tel: +86 312 8929787
Email: ir@yingli.com
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SOURCE Yingli Green Energy Holding Company Limited