Yingli Green (YGE) Energy Nets $4.5 Million Tax Credit – January 13, 2010
Yingli Green Energy is slated to receive a tax credit of $4.5million for building a manufacturing facility in the US. The company plans to build a 100MW facility in the US, though it has not yet settled on a site. A location is expected to be announced in the next few weeks and the facility is expected to be up and running by the end of the year.
In a press release, Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy, commented on the tax credit:
“We are pleased to have been selected as a recipient of tax credits under the MITC program. Establishing a manufacturing presence in theUnited 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 towards making these domestic operations sustainable for our customers, employees and community.”