Yingli Announces Update on SunShot Project for High Efficiency N-Type Cells

BAODING, China, Sept. 12, 2017 /PRNewswire/ -- Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Solar" or "Yingli"), one of the world's leading solar panel manufacturers, today announced an update on the partnership with Picasolar Inc. and the progress being made to deploy an innovative Hydrogen Super Emitter (HSE) into pilot production under the Department of Energy SunShot Program.

The U.S. Department of Energy SunShot Initiative is a national effort to drive down the cost of solar electricity and support solar adoption. SunShot aims to make solar energy a low-cost electricity source for all Americans through research and development efforts in collaboration with public and private partners. Through SunShot, the Energy Department supports efforts by private companies, universities, and national laboratories to drive down the cost of solar electricity. Yingli Americas partnered with Picasolar Inc in 2016 and the collaboration received a $2m SunShot award with the goal of moving the selective emitter technology to production for n-type solar cells.

Within the first year of the partnership, absolute efficiency improvements exceeding 0.3% absolute have been demonstrated on production cells and key reliability testing has been performed at third-party laboratories. Current work is focused on further improvements in cell efficiency, demonstrating cell-to-cell process uniformity, and scaling up the manufacturing equipment.

"Module efficiency is one of the largest levers available to continue driving down the cost-per-watt," commented Sergiu Pop, Director of Business Development for Yingli Americas. "The technology developed by Picasolar not only improves conversion efficiencies but also enables us to further optimize the grid spacing to save on silver. Ultimately this delivers more value to our customers."

"Access to Yingli's manufacturing expertise has been a game-changer for us," said Douglas Hutchings, CEO of Picasolar. "Over the past year we have transitioned from optimizing the process on custom built lab cells all the way to demonstrations on cells pulled directly from manufacturing. We are working with potential funding sources to establish US based equipment manufacturing and look forward to the next stage of our growth with Yingli."

About Yingli Green Energy

Yingli Green Energy Holding Company Limited (NYSE: YGE), known as "Yingli Solar," is one of the world's leading solar module manufacturers. Yingli Green Energy's manufacturing covers the photovoltaic value chain from ingot casting and wafering through solar cell production and solar PV module assembly. Headquartered in Baoding, China, Yingli Green Energy has more than 20 regional subsidiaries and branch offices and has distributed more than 17 GW solar PV modules to customers worldwide. For more information, please visit www.yinglisolar.com and join the conversation on Facebook, Twitter and Weibo.

About Picasolar

Picasolar is a leading provider for advanced solar cell technologies. Headquartered in the Arkansas Research and Technology Park in Fayetteville, Arkansas, Picasolar focuses on high impact R&D for the solar industry. Picasolar's mission is to enable cost competitive solar manufacturing for every geography.  For more information, please visit www.picasolar.com and join the conversation on Facebook.

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:

Eric Pan
Investor Relations
Yingli Green Energy Holding Company Limited
Tel: +86 312 8929787
E-mail: ir@yingli.com

In the Americas:

Amy Chang
Marketing Communications Manager Americas
Yingli Green Energy Americas
Email: amy.chang@yingli.com

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SOURCE Yingli Green Energy Holding Company Limited