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Yingli Green Energy Starts Initial Production From Latest 200 MW Expansion Project

Posted on: Wednesday, 2 July 2008, 09:00 CDT

Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or "the Company"), one of the world's leading vertically integrated photovoltaic ("PV") product manufacturers, today announced the achievement of a significant milestone.

The Company started initial and small-scale production of polysilicon ingots, wafers, PV cells and PV modules from its latest 200 MW expansion project in late June, 2008. Equipment is being gradually delivered on time and in-line with the installation schedule. The Company expects to complete installation of the 200MW of expanded capacity in the fourth quarter of 2008 and the full production volume will come online in late 2008. Once completed, the Company's total production capacity of polysilicon ingots and wafers, PV cells and PV modules will be 400 MW.

"Given our accumulated experience over the past few years in expanding capacity, we believe that we will complete this project on time in the fourth quarter of this year," commented Mr. Liansheng Miao, Chairman and CEO of Yingli Green Energy. "The expansion should further increase our visibility and help us meet our shipment guidance for 2008 and beyond. In addition, these new production lines feature the latest equipment, including GT Solar's DSS 450 furnaces which have the capacity to produce 400kg ingots, and greater automation across the whole value chain. We believe this will help us better control both our operations and overall product quality as we continue our fast development in this exciting market."

About Yingli Green Energy

Yingli Green Energy Holding Company Limited is one of the world's leading vertically integrated PV product manufacturers. Through the Company'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 electricity transmission grids or those that operate on a stand-alone basis. With 200 MW of total annual production capacity in each of polysilicon ingots and wafers, PV cells and PV modules, Yingli Green Energy is currently one of the largest manufacturers of PV products in the world as measured by annual production capacity. Additionally, Yingli Green Energy is one of the few large-scale PV companies in the world to have adopted a vertically integrated business model. Yingli Green Energy currently plans to expand annual production capacity of polysilicon ingots and wafers, PV cells and PV modules to 400 MW by the end of 2008 and to 600 MW by mid-2009. Yingli Green Energy sells PV modules under its own brand name, Yingli Solar, to PV system integrators and distributors located in various markets around the world, including Germany, Spain, Italy, China and the United States. For more information, please visit www.yinglisolar.com.

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will,""expects,""anticipates,""future,""intends,""plans,""believes,""estimates" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Yingli Green Energy's control, which may cause Yingli Green Energy's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in Yingli Green Energy's filings with the U.S. Securities and Exchange Commission. Yingli Green Energy does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

Source: Business Wire

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