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Stock Market & Financial Investment News

News Breaks
January 7, 2014
07:00 EDTYGEYingli Green Energy, China National Nuclear establish JV
Yingli Green Energy announced that its wholly-owned subsidiary, Yingli Energy has entered into an investment agreement for the establishment of a joint venture with China Rich Energy Corporation Limited, a wholly-owned subsidiary of China National Nuclear Corporation, to develop and construct distributed generation solar projects across China. As distributed generation systems, these projects will be located in close proximity to end-users of the electricity to be generated by such projects. Yingli China and China Rich Energy signed a framework agreement several months ago to outline their long-term, strategic cooperative relationship. The framework agreement contemplates establishment of the JV which will develop 500 MW distributed generation solar projects across China, 200 MW of which will be installed on sites to be provided by CNNC or its subsidiaries. Signing of the investment agreement indicates that the cooperation between Yingli Solar and China Rich Energy enters into the implementation stage.
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