yingli green energy hold-adr (YGE) Key Developments
Yingli Green Energy Wins Contract to Build 50 Mw Solar Power Plant in Shanxi Province, China
Jul 21 15
Yingli Green Energy announced that it has been selected to develop and construct a 50 megawatt (MW) solar power plant in Datong City, Shanxi Province, China. The power plant will be one of the key demonstration projects at the National Advanced PV Technology Demonstration Center.
Yingli Green Energy Holding Company Limited Introduces New 1500V Utility-Scale Solar Panel
Jul 14 15
Yingli Green Energy Holding Company Limited announced that it has develop a framed utility-scale solar panel designed for a maximum system voltage of 1500 Volts (V). This new product will be displayed at the Intersolar North America trade show in San Francisco, California from July 14, 2015 through July 16, 2015 at the Yingli Solar booth, #7421. Designed specifically for use in utility-scale PV power plants, the new panel improves system performance and reduces balance-of-system costs. Compatible with most tracking and mounting systems, it is among the first 1500V solar panels to include an aluminum frame. An extra layer of protective coating on the solar cells ensures high resistance to Potential Induced Degradation (PID).
Yingli Green Energy Holding Company Limited to supply 240 Mw of Solar Panels for Latin America's Large Hybrid Solar Power Plants
Jul 10 15
Yingli Green Energy Holding Company Limited announced that it is supplying 240 megawatts (MW) of solar panels for Latin America's two large hybrid solar photovoltaic (PV) and concentrated solar power (CSP) power plants. Both projects, located in northern Chile, will also be equipped with 110 MW of CSP and 17.5 hours of thermal storage each. As the power plants' sole PV supplier, Yingli is providing over 780,000 multicrystalline utility-scale YGE 72 Cell solar panels to the projects, which be installed in two phases. The first phase of panel deliveries was recently completed, and the second phase will start in August. The first power plant is expected to be operational by mid-2016. Once complete, the PV portion of the solar power plants will occupy nearly 100,000 acres of land in total. Both projects will be connected to the national utility grid and deliver an uninterrupted power supply to commercial, industrial, and residential customers throughout Chile, offsetting approximately 385,000 tons of carbon emissions each year.
Pomerantz LLP Announces Class Action Lawsuit Against Yingli Green Energy Holding Co. Ltd
Jul 3 15
Pomerantz LLP announced that a class action lawsuit has been filed against Yingli Green Energy Holding Co. Ltd. and certain of its officers. The class action, filed in United States District Court, Central District of California, is on behalf of a class consisting of all persons or entities who purchased Yingli securities between March 18, 2014 and May 15, 2015 inclusive (the 'Class Period'). This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934. The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose: (1) that the company was inappropriately recognizing revenue; (2) that the Company had no reasonable prospects to collect on certain accounts receivable based on historical customer conduct; (3) that the Company was no longer able to borrow from commercial banks to fund its operations; (4) that the company's inability to raise additional capital or borrow funds from commercial banks threatened the company's ability to continue as a going concern; and, (5) that, as a result of the foregoing, Defendants' statements about Yingli's business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
Yingli Green Energy Holding Company Limited to Supply 40 Megawatts of Solar Panels to Sybac Solar in Honduras
Jun 24 15
Yingli Green Energy Holding Company Limited announced that it will supply 40 megawatts (MW) of solar panels to Sybac Solar for two power plants in Honduras: the Pacific Solar project, located in Nacaome, and the La Manzanilla y Las Lajas project, located in Choluteca. Yingli is currently delivering 25 MW for the first phase of the 50 MW Pacific Solar project, which was developed by EM-Power Corporacion. The first phase is expected to begin operating in August 2015 and the second phase is expected to come online in 2016. Once complete, the power plant will contain at least 160,000 high-performing, multicrystalline YGE 72 Cell Series panels, which are engineered specifically for large-scale utility projects. Separately, Yingli is also delivering 15 MW of these YGE 72 Cell Series solar panels for the first tranches of the La Manzanilla y Las Lajas project, which was developed by Energys de Honduras S.A. de C.V. Once complete, at least 96,000 Yingli Solar panels will be installed in this utility-scale system.