SolarIndustryMag.com: Yingli Green Energy Denies Any Illegal Subsidization

Yingli Green Energy Denies Any Illegal Subsidization

by SI Staff on Wednesday 26 September 2012

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Yingli Green Energy says it "strongly rejects" accusations contained in the anti-subsidy complaint filed by EU Pro Sun - an initiative of European solar companies led by SolarWorld - earlier this week.

"As a publicly traded company listed on the New York Stock Exchange, we have been fully transparent with our funding sources and cost," says Liansheng Miao, chairman and CEO of Yingli. "We receive financing at the usual market rates and act according to international accounting standards and norms. Between 2009 and 2011, the weighted average interest rates for all of our borrowings ranged from 6.3 percent to 7.1 percent.

"Furthermore, we do not and have never received any illegal subsidies from the government," he continues.

The punitive tariffs sought by EU Pro Sun in its trade complaint will lead to higher prices in the industry and threaten thousands of jobs, adds Darren Thompson, managing director of Yingli Green Energy Europe GmbH.

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