Hosted Forum to Drive Development of On-grid Solar Plants in China Forms Strategic Alliance with Subsidiary of CGNPC to Develop On-grid Solar. BAODING, China, July 22 /PRNewswire-Asia-FirstCall/ -- Yingli Green Energy Holding Company Limited (NYSE:YGE) ("Yingli Green Energy" or the "Company"), one of the world's leading vertically integrated photovoltaic ("PV") product manufacturers, today announced its recent business developments in the China market. China Market Business Updates Yingli Green Energy hosted a forum in Baoding, the first of its kind in China, to discuss the establishment of industry standards and project financing in connection with the construction of on-grid solar plants in China. In attendance at the event were senior managers and representatives from more than forty state-owned utilities companies, state grid corporations, project design and development companies and the local government. The Company also announced the establishment of a strategic alliance with a subsidiary of China Guangdong Nuclear Power Holding Co., Ltd. ("CGNPC") to explore the opportunities for development of on-grid solar projects both in China and overseas markets. Expansion Activities in Hainan Province Yingli Green Energy has agreed with Hainan Provincial Development Holding Company Limited ("Hainan Development"), a state-owned enterprise, to form a joint venture, Hainan Yingli New Energy Resources Co., Ltd. ("Hainan Yingli"), to build manufacturing facilities with annual production capacity of 100 MW in each of polysilicon ingots and wafers, PV cells and PV modules in Haikou, Hainan Province. Under the agreement, Yingli Green Energy will hold an 80% equity interest in Hainan Yingli. The establishment of Hainan Yingli will be subject to the approval of Yingli Green Energy's board of directors. In addition, Yingli Green Energy has agreed with Hainan Development and Hainan Provincial Water Conservancy & Power Group Company Limited, a state-owned enterprise in Hainan Province, to form another joint venture, Hainan Green Islands Power Company Limited ("Green Islands Power") to develop and operate on-grid solar projects in Hainan Province. Under the agreement, Yingli Green Energy will hold a 20% equity interest in Green Islands Power. It is expected that Green Islands Power will develop on-grid solar projects totaling up to 300 megawatts from 2009 to 2011 in Hainan Province.
