Yingli to Develop a 50 MW PV Power Plant in China

Yingli Green Energy Holding Company Limited, Yingli Solar, has obtained an RMB300 million (US$48 million) financing facility for a 50 MW photovoltaic power plant in China.

The 10-year direct financing lease for the project's development and construction was provided by CGN International Finance Leasing, a wholly-owned subsidiary of China General Nuclear Power Group (CGN).

Located in Handan City, Hebei Province, the 50 MW PV power plant is expected to generate approximately 54 million kilowatt-hours of solar electricity annually, offsetting over 50,000 tons of carbon emissions. Construction and interconnection of the project are expected to be completed by the end of May 2015.

Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy, commented:

"We are pleased to begin our relationship with CGN International Finance Leasing, and believe that our partnership is a key breakthrough for Yingli's downstream business development. We anticipate that more Chinese financial institutions will ramp up activities in PV project development moving forward."

Yingli Solar'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 10 GW solar panels to customers worldwide.