United Photovoltaic Group To Acquire Solar PV Plants From Yingli China

(RTTNews) - Yingli Green Energy Holding Company Limited (YGE) announced that its subsidiary, Yingli Energy (China) Company Limited, has entered into a framework agreement with United Photovoltaic Group Limited for the acquisition of China-based solar PV plants to be developed and constructed by Yingli Green Energy. United Photovoltaic Group will acquire at least 300 MW of large-scale solar energy systems, which is eligible for certain criterions, from Yingli China from 2014 to 2016. The plants are located mainly in Hebei, Guangxi, Shanxi, Shandong, and other provinces.

Yiyu Wang, CFO of Yingli Green Energy, said: "Yingli remains committed to accelerating the development of our downstream business globally. We are pursuing this strategy in order to further improve profitability and optimize the company's financial structure."

United Photovoltaic Group is a company listed on the Main Board of Hong Kong Stock Exchange.