Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), a leading solar energy company and one of the world's largest vertically integrated photovoltaic ("PV") manufacturers, which markets its products under the brand "Yingli Solar", today announced that its wholly-owned subsidiary, Yingli Energy (China) Company Limited ("Yingli China"), signs two loan agreements (the "Agreements") with China Development Bank ("CDB") with an aggregate of US$ 165 million.
Under the terms of the Agreements, CDB will provide Yingli China with a one-year loan of US$110 million and a three-year loan of US$55 million to complement its working capital needs and support the procurement of raw material.
"We're pleased to enhance our cooperation with CDB." said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "With the new financing in place, we're confident to continue to solidify and reinforce our leading position globally. At the same time, as our operating cash flow position is on track to gain improvement, we expect to continuously optimize our balance sheet. "
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (NYSE: YGE), which markets its products under the brand "Yingli Solar," is a leading solar energy company and one of the world's largest vertically integrated photovoltaic manufacturers. Yingli Green Energy's manufacturing covers the entire photovoltaic value chain, from the production of polysilicon through ingot casting and wafering, to solar cell production and module assembly. Yingli Green Energy currently maintains a balanced vertically integrated production capacity of 2,450 MW per year at its production facilities located in Baoding, Haikou, Tianjin and Hengshui. Yingli Green Energy distributes its photovoltaic modules to a wide range of markets, including Germany, Spain, Italy, Greece, France, South Korea, China and the United States. Headquartered in Baoding, China, Yingli Green Energy has more than 20 subsidiaries and branch offices worldwide. Yingli Green Energy is publicly listed on the New York Stock Exchange (NYSE: YGE).
