Yingli Green Energy (NYSE:YGE) Enters into Strategic Partnership with China Guangdong Nuclear Energy Development Co.
By Mark Wu
Yingli Green Energy (NYSE:YGE) has entered into a strategic partnership with China Guangdong Nuclear Energy Development Co. (CGNEDC), according to the website of China Guangdong Nuclear Power Holding Co., the parent of CGNEDC. Under the agreement, Yingli and CGNEDC will jointly develop the photovoltaic power generation market. YGE will provide the joint project with high-quality and low-cost components and technical support.
Yingli (NYSE:YGE) shares are up 68% year-to-date. On average, wall street analysts are expecting its revenue and EPS to rise 26% and 144% in 2010 over 2009. Out of the 15 wall street analysts covering YGE, nine have a positive rating on the stock. YGE is currently the fifth largest U.S.-listed solar power company in terms of market cap.
China Guangdong Nuclear Power Holding Co., Ltd is a large state-owned company with over 20 subsidiaries. It is supervised by China's State-owned Assets Supervision and Administration Commission (SASAC). It is the only Chinese clean energy company focusing on on nuclear power.
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