China-based PV Maker Plans U.S. Operation, Gets Tax Credit
Yingli Green Energy Holding Company Limited, a vertically integrated photovoltaic product manufacturer, has received through its U.S. subsidiary, Yingli Green Energy Americas, Inc., a tax credit of 4.5 million from the United States Treasury Department, as part of its Recovery Act Advanced Manufacturing Tax Credit program for the company's planned establishment of manufacturing operations in the United States.
According to the U.S. Department of Energy, tax credits under the program are focused on putting Americans back to work by building a robust domestic manufacturing capacity to supply clean and renewable energy projects with American-made parts and equipment.
Yingli Green Energy is evaluating several potential sites for its planned 100 MW module manufacturing facility, which will also serve as its North American headquarters for operations and research and development. The company expects to select a location in the following weeks and begin production later this year. Much of the manufacturing equipment used for production and testing will be procured from U.S. companies and assembled in the United States.
"We are pleased to have been selected as a recipient of tax credits under the MITC program," commented Liansheng Miao, chair and chief executive officer of Yingli Green Energy. "Establishing a manufacturing presence in the United States will enable our company to better serve our local customers and build upon our existing commercial relationships. The tax credits we received will positively contribute toward making these domestic operations sustainable for our customers, employees and community."
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 operate on a stand-alone basis. Based in Baoding, China, the company sells its PV modules to system integrators and distributors located in various markets around the world, including Germany, Spain, Italy, South Korea, Belgium, France, China and the United States.