Yingli Green Energy Announces JV With Datong Coal Mine Group - Quick Facts

(RTTNews) - Yingli Green Energy Holding Company Ltd. (YGE), a vertically integrated photovoltaic ("PV") module manufacturer, known as "Yingli Solar", said its subsidiary, Yingli Energy (China) Company Ltd. or "Yingli China", has reached an agreement to establish a joint venture with Shuozhou Coal Power Co., Ltd., an unit of Datong Coal Mine Group Co., Ltd., which is China's third largest state-owned coal mining enterprise. The Joint Venture would develop and build solar power plants in Shuozhou city, Shanxi province.

The Joint Venture is a sign of Yingli China and Datong Coal Mine Group's strong partnership. Previously, the two companies cooperated on a 20 MW utility-scale project located in Shanxi Province's Tashan circular economic park, in which Yingli China served as both module supplier and EPC.

Liansheng Miao, Chairman and Chief Executive of Yingli Green Energy, stated: "This partnership provides Yingli Solar with a strategic avenue to expand our domestic downstream business. By leveraging advantages of both companies, we will be able to accelerate the project development and bring significant benefits to all parties involved."