Yingli Green Energy Holding Company Ltd. (NYSE:YGE) announced that its subsidiary, Yingli Energy (China) Company Ltd. has entered an agreement to set up a joint venture with Shuozhou Coal Power Company Ltd., a subsidiary of Datong Coal Mine Group Company Ltd., China’s third-biggest state-owned coal miner.
Yingli Green Energy is the world’s largest vertically integrated photovoltaic module manufacturer, and the new joint venture will be aimed at developing and building solar power plants in Shuozhou city, Shanxi province.
As quoted in the press release:
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 Chinaserved as both module supplier and EPC.
Chengsheng Li, chairman of Shuozhou Coal Power and the joint venture, commented:
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.