Yingli Green Energy announces Joint Venture with Datong Coal Mine Group
Baoding, China - Yingli Green Energy Holding Company Limited announced that its wholly-owned subsidiary, Yingli Energy Company Limited has entered an agreement to establish a joint venture with Shuozhou Coal Power Co., Ltd., a wholly-owned subsidiary of Datong Coal Mine Group Co., Ltd., which is China's third largest state-owned coal mining enterprise.
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.
"We are very pleased to deepen our strategic partnership with Yingli Green Energy, a worldwide PV industry leader. Our Joint Venture echoes the national target for the building of a beautiful China and will help to meet our national targets for clean electricity generation. Additionally, the Joint Venture is in line with the strategy of Datong Coal Mine Group's sustainable development," commented Mr. Chengsheng Li, the Chairman of the Joint Venture and Shuozhou Coal Power.
"We are delighted to enhance the cooperation with Datong Coal Mine Group through our new Joint Venture," said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "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."
Source: IWR Online, 02 Jan 2014
