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Yingli Solar to form JV with Demeter Power to Establish 300 MW Solar Panel Manufacturing Facility in Thailand

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Yingli Green Energy Holding Company Ltd. (NYSE: YGE) today announced that its holding subsidiary, Hainan Yingli New Energy Resource Co, LTD. ("Hainan Yingli"), has entered into definitive agreements to form a joint venture ("JV") to establish a new solar panel factory in Thailand with Demeter Corporation PLC's subsidiary, Demeter Power Company Limited ("Demeter Power"), a Thailand-based developer, EPC provider, and operator of renewable energy projects.

According to the agreements, Hainan Yingli will hold a 40% stake in the JV and the JV will fully implement the project with a capital investment of approximately 689 million Thai Baht ($19 million USD). The new factory will be located in Pruckdang district in Rayong, Thailand and have an annual capacity of 300 megawatts (MW) of multicrystalline PV panels, which will be sold by Yingli under the Yingli Solar brand name. The facility is expected to begin operating in the second half of 2016.

"We are proud to establish our first overseas manufacturing operations in partnership with Demeter Power, and we hope to expand the new

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