Yingli Green Energy Says Energy Conversion Devices' Antitrust Claims Baseless

(RTTNews) - Yingli Green Energy Holding Co. Ltd. (YGE), a Chinese vertically integrated photovoltaic manufacturer, Wednesday responded to Energy Conversion Devices Liquidation Trust's filing of an antitrust and unfair trade practice lawsuit, calling its claims baseless.

The lawsuit is filed in the U.S. District Court for the Eastern District of Michigan.

Robert Petrina, Managing Director, Yingli Green Energy Americas, said, "We are still reviewing the filing, but at first glance these are baseless claims that seem similar to the Solyndra antitrust case. In both instances, the companies are bankrupt and appear to be blaming others for their own failed thin-film technology and flawed business models. We will continue to aggressively defend ourselves and expect that Yingli will prevail in both cases."

Yingli Green, which markets its products under the brand "Yingli Solar", in October 2012 had responded to a filing of an antitrust and unfair trade practice lawsuit by Solyndra, the bankrupt Silicon Valley solar startup, calling it unwarranted and misguided claims.