Yingli Green Energy Holding Company Limited (NYSE:YGE) ("Yingli Green Energy" or the "Company") has secured credit from the state-owned China Development Bank (CDB) up to RMB 36 billion (US$5.32 billion).
The company announced that its affiliate, Yingli Group Company Limited entered into a strategic cooperation agreement with the Hebei Branch of CDB.
The credit facilities will be granted to Yingli Group and its affiliates, including three Chinese subsidiaries of Yingli Green Energy--Baoding Tianwei Yingli New Energy Resources Co., Ltd., a 74%-owned subsidiary of Yingli Green Energy, Yingli Energy (China) Co., Ltd., a wholly owned subsidiary of Yingli Green Energy, and Fine Silicon Co., Ltd., a wholly owned subsidiary of Yingli Green Energy.
The credit is to suport Yingli Group and its affiliates in their PV industry-related domestic and overseas investments.
Yingli Green Energy Holding Company Limited holds the brand "Yingli Solar" and is 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.
Currently, Yingli Green Energy maintains a production capacity of over 600 MW per year. Two capacity expansion projects of 300 MW and 100 MW began operations earlier this month, and are expected to bring Yingli Green Energy's total capacity to 1 GW by the end of 3Q10.