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FMO and DEG sign USD 50 mln credit facility agreement with Chinese Yingli Green Energy Subsidiary

September 2, 2008, Yingli Green Energy Holding Company Limited, one of the world’s leading vertically integrated photovoltaic product manufacturers, announced that Baoding Tianwei Yingli New Energy Resources Co., Ltd, the Company’s principal operating subsidiary, has entered into a five-year credit facility agreement with FMO and DEG. Under the agreement, DEG and FMO have agreed to lend Tianwei Yingli up to an aggregate of USD 50 million to support Tianwei Yingli’s capacity expansion, subject to certain conditions.

"Climate protection has been an important issue for DEG since the mid-1990s", said Mr. Winfried Polte, Chairman of the Board of Management of DEG. "We are proud to support Yingli Green Energy as a company distinguished by exceptional expertise and a proven track record in the solar energy industry. In addition, Yingli Green Energy’s capacity expansion will create thousands of new jobs in China thereby contributing to economic growth in this rapidly developing economy."

"FMO is strongly committed to renewable energy projects," said Mr. Arthur Arnold, Chief Executive Officer of FMO. "Energy is central to economic and social development and essential to fighting poverty in emerging markets. Therefore we are pleased to contribute to the rapid growth of the solar energy market worldwide by financing Yingli Green Energy’s expansion of production capacity in China."

"We are pleased to have been selected to receive financing from DEG and FMO, two well-known financial institutions that specialize in providing long term financing to support socially and environmentally friendly companies in developing countries," commented Mr. Zongwei Li, Chief Financial Officer of Yingli Green Energy. "The strong commitment of DEG and FMO to our growth strategy not only strengthens our ability to expand our vertically integrated manufacturing capacity, but also enhances our debt structure by enabling us to shift to longer term indebtedness." "We believe this financing demonstrates DEG and FMO’s confidence in our business strengths and leadership position, as well as recognizes our status as a good corporate citizen. As a leading green energy company, we not only focus on developing our own business to provide returns to our shareholders, but also aim to make lasting contributions to society and the environment through job creation, appropriate working conditions and valuable technical training, as well as adherence to internationally accepted environmental protection standards and research and development efforts to create innovative energy efficient manufacturing processes."

The Netherlands Development Finance Company (FMO) is the international development bank of the Netherlands. FMO invests risk capital in companies and financial institutions in developing countries. FMO's investment portfolio is EUR 3.4 billion, FMO is one of the largest bilateral development banks worldwide. Thanks in part to its relationship with the Dutch government, FMO is able to take risks which commercial financiers are not - or not yet - prepared to take. FMO's mission: to create flourishing enterprises, which can serve as engines of sustainable growth in their countries.

Press contact:
Nicoline van Slingelandt
Communications Officer (PR)
T: +31 70 314 9790  
E: n.van.slingelandt@fmo.nl
W: www.fmo.nl