Baoding Yingli Group Company Limited is exploring the possibility of manufacturing polysilicon with 3,000 metric tons annual capacity in Baoding, China. The company is owned by Liansheng Miao, the chairman of the board of directors and CEO of photovoltaic manufacturer Yingli Green Energy Holding Company Limited (NYSE: YGE).
Yingli Group does not expect to seek funding or other support from Yingli Green Energy, though it intends to sell polysilicon to the company.
Yingli Group expects to use primarily Siemens methodology for production, the company said.
"With the core technical force and engineers coming from Europe and the United States with extensive industry experience, I am optimistic about the success of this project," commented Liansheng Miao, Chairman of Yingli Group. "Our listed affiliate, Yingli Green Energy, is one of the world’s leading vertically integrated PV product manufacturers engaging in each of polysilicon ingots and wafers, PV cells and PV modules, and I expect this polysilicon project to be undertaken by Yingli Group to ultimately benefit both YGE and YGE’s shareholders, and further enhance YGE’s competitive advantages in the long run."
About Yingli Group
Yingli Group was established in 1987 and is a multi-industry group covering energy, chemical products, high-tech, manufacturing, trading, finance, real estate and other sectors, with its focus on renewable energy. Yingli Group’s listed affiliate, Yingli Green Energy Holding Company Limited, is a vertically integrated PV product manufacturer. Through Yingli Green Energy’s principal operating subsidiary in China, Baoding Tianwei Yingli New Energy Resources Co., Ltd., Yingli Green Energy designs, manufactures and sells PV modules and designs, assembles, sells and installs PV systems that are connected to an electricity transmission grid or those that operate on a stand-alone basis.
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