Welcome!

News Feed Item

Yingli Green Energy Signs Cooperation Agreement with Sailing Capital to Jointly Form a One Billion RMB Renewable Energy Fund

BAODING, China, April 16, 2014 /PRNewswire/ -- Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), the largest vertically integrated photovoltaic ("PV") module manufacturer in the world, also known as "Yingli Solar", today announced that its wholly-owned subsidiary, Yingli Energy (China) Company Limited ("Yingli China") has signed a cooperation agreement (the "Agreement") with Shanghai Sailing Capital Management Co., Ltd., the manager of Shanghai Sailing Capital Investment Fund, to jointly form a renewable energy fund (the "Fund") in Shanghai with an aim to invest in downstream solar energy projects in China. Shanghai Sailing Capital Investment Fund is an affiliated entity of Sailing Capital International Fund ("Sailing Capital").

(Logo: http://www.prnasia.com/sa/2012/04/01/20120401160439160364.jpg )

According to the Agreement, the Fund will have an initial size of approximately RMB1 billion, of which Yingli China commits to contribute approximately 51% of the total capital through its wholly owned affiliate in China. The capital contribution will, however, be made in several installments. The Fund is expected to invest primarily in Yingli Green Energy's solar PV projects through various portfolios, and both parties will take an active role in the management of the Fund. The parties will enter into further definitive agreements to formally define their partnership and specific investment opportunities.

"Renewable energy is emerging as a strategic industry in China and around the world, and the PV segment in particular has great prospects for future development," commented Mr. James Xiaodong Liu, Chief Executive Officer of Sailing Capital's fund manager. "As China's first large, cross-border RMB private equity fund, Sailing Capital is pleased to join a PV industry leader, Yingli Green Energy. The Fund, which will initially focus on ground-mounted solar power plant and distributed solar power generation system investments, marks the beginning of the two companies' comprehensive cooperation through capital and industrial resource sharing. This partnership will not only enhance Yingli Green Energy's strategic efficiency, but will also drive the rapid development of the industry and create value for the investors."

"We are delighted to partner with Sailing Capital, a leading RMB private equity fund with robust funding resources, to accelerate our footprint in the downstream solar energy market," commented Mr. Bryan Li, Executive Director and Chief Strategy Officer of Yingli Green Energy. "As a long-term strategic repositioning, this cooperation is a solid step towards our transition from a PV manufacturer to a renewable energy solutions provider. By securing a priority right in investing in Yingli Green Energy's downstream solar projects, we should also be able to seek more sources of investment in solar PV projects, while at the same time minimizing potential risks."

About Yingli Green Energy

Yingli Green Energy Holding Company Limited (NYSE: YGE), known as "Yingli Solar," is the world's largest photovoltaic module manufacturer in terms of production capacity and shipments. Yingli Green Energy's manufacturing covers the photovoltaic value chain from ingot casting and wafering through solar cell production and module assembly. Headquartered in Baoding, China, Yingli Green Energy has more than 30 regional subsidiaries and branch offices and has distributed more than 9,000 MW PV modules to customers worldwide. For more information, please visit www.yinglisolar.com and join the conversation on Facebook, Twitter, and Weibo.

About Sailing Capital

Sailing Capital International Fund ("Sailing Capital") is the first large cross-border RMB private equity fund launched in China. Sailing Capital was established by Shanghai International Group, with initial capital raised from limited partners, themselves all successful and influential domestic enterprises. Sailing Capital's first round of funding successfully raised RMB 12 billion (approximately US$1.9 billion). Sailing Capital engages in direct private equity investments or investment through sub-funds, and can participate throughout the capital structure -- equity, structured finance, mezzanine and/or debt -- for buy-out, control, or significant minority positions. Sailing Capital has a multinational and experienced international team, comprising professionals formerly at bulge bracket investment banks, law firms, private equity shops, and the Big Four accounting firms.

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Yingli Green Energy's control, which may cause Yingli Green Energy's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in Yingli Green Energy's filings with the U.S. Securities and Exchange Commission. Yingli Green Energy does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

For further information about Yingli Green Energy, please contact:

In China

Qing Miao
Vice President of Corporate Communications
Yingli Green Energy Holding Company Limited
Tel: +86 312 8929787
E-mail: [email protected]

In the Americas:

Helena Kimball
Head of Marketing
Yingli Green Energy Americas Inc.
Tel: +1-603-591-5812
Email: [email protected]

In Europe:

Rebecca Jarschel
Public Affairs & Public Relations Director
Yingli Green Energy International AG
Tel: +41 (0) 44 567 6143
Email: [email protected]

SOURCE Yingli Green Energy Holding Company Limited

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
The proper isolation of resources is essential for multi-tenant environments. The traditional approach to isolate resources is, however, rather heavyweight. In his session at 18th Cloud Expo, Igor Drobiazko, co-founder of elastic.io, will draw upon their own experience with operating a Docker container-based infrastructure on a large scale and present a lightweight solution for resource isolation using microservices. He will also discuss the implementation of microservices in data and applicat...
Join IBM June 8 at 18th Cloud Expo at the Javits Center in New York City, NY, and learn how to innovate like a startup and scale for the enterprise. You need to deliver quality applications faster and cheaper, attract and retain customers with an engaging experience across devices, and seamlessly integrate your enterprise systems. And you can't take 12 months to do it.
See storage differently! Storage performance problems have only gotten worse and harder to solve as applications have become largely virtualized and moved to a cloud-based infrastructure. Storage performance in a virtualized environment is not just about IOPS, it is about how well that potential performance is guaranteed to individual VMs for these apps as the number of VMs keep going up real time. In his session at 18th Cloud Expo, Dhiraj Sehgal, in product and marketing at Tintri, will discu...
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, will discuss how research has demonstrated the value of Machine Learning in delivering next generation analytics to im...
This is not a small hotel event. It is also not a big vendor party where politicians and entertainers are more important than real content. This is Cloud Expo, the world's longest-running conference and exhibition focused on Cloud Computing and all that it entails. If you want serious presentations and valuable insight about Cloud Computing for three straight days, then register now for Cloud Expo.
As you respond to increasing requests for new analytics, you need fast and flexible technology in your arsenal so that you can deploy the right workload to the right platform for the need at hand. Do you need self-service and fast time to value? Do you have data and application control and privacy needs, along with strict SLAs to meet? IBM dashDB™ is data warehouse technology powered by in-memory computing and in-database analytics that are designed for fast results, scalability and more.
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, will provide tips on how to be successful in large scale machine lear...
Up until last year, enterprises that were looking into cloud services usually undertook a long-term pilot with one of the large cloud providers, running test and dev workloads in the cloud. With cloud’s transition to mainstream adoption in 2015, and with enterprises migrating more and more workloads into the cloud and in between public and private environments, the single-provider approach must be revisited. In his session at 18th Cloud Expo, Yoav Mor, multi-cloud solution evangelist at Cloudy...
IoT device adoption is growing at staggering rates, and with it comes opportunity for developers to meet consumer demand for an ever more connected world. Wireless communication is the key part of the encompassing components of any IoT device. Wireless connectivity enhances the device utility at the expense of ease of use and deployment challenges. Since connectivity is fundamental for IoT device development, engineers must understand how to overcome the hurdles inherent in incorporating multipl...
We’ve worked with dozens of early adopters across numerous industries and will debunk common misperceptions, which starts with understanding that many of the connected products we’ll use over the next 5 years are already products, they’re just not yet connected. With an IoT product, time-in-market provides much more essential feedback than ever before. Innovation comes from what you do with the data that the connected product provides in order to enhance the customer experience and optimize busi...
The IETF draft standard for M2M certificates is a security solution specifically designed for the demanding needs of IoT/M2M applications. In his session at @ThingsExpo, Brian Romansky, VP of Strategic Technology at TrustPoint Innovation, will explain how M2M certificates can efficiently enable confidentiality, integrity, and authenticity on highly constrained devices.
The paradigm has shifted. A Gartner survey shows that 43% of organizations are using or plan to implement the Internet of Things in 2016. However, not just a handful of companies are still using the old-style ad-hoc trial-and-error ways, unaware of the critical barriers, paint points, traps, and hidden roadblocks. How can you become a winner? In his session at @ThingsExpo, Tony Shan will present a methodical approach to guide the holistic adoption and enablement of IoT implementations. This ov...
In his session at 18th Cloud Expo, Sagi Brody, Chief Technology Officer at Webair Internet Development Inc., will focus on real world deployments of DDoS mitigation strategies in every layer of the network. He will give an overview of methods to prevent these attacks and best practices on how to provide protection in complex cloud platforms. He will also outline what we have found in our experience managing and running thousands of Linux and Unix managed service platforms and what specifically c...