Yingli Settles Solar Anti-Dumping Lawsuit Brought by Solyndra
- California company claimed Chinese firms formed illegal cartel
- China's Yingli to pay $7.5 million to Solyndra and limit sales
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Chinese solar panel maker Yingli Green Energy Holding Co Ltd. reached a settlement with Solyndra LLC, closing an antitrust and unfair-trade practice lawsuit filed in California.
The companies agreed that Yingli will make an immediate payment of $7.5 million to Solyndra LLC, dismissing the lawsuit, according to a statement from Yingli on Monday. If the Baoding, China-based company or any of its affiliates sell 800 megawatts of solar panels or more in the U.S. and Canada in a single calendar year between 2016 and 2018, it must make an additional payment of $10 million to Solyndra.