Yingli Green Energy subsidiary Hainan Yingli New Energy Resource is to form a joint venture with Demeter Power Company to establish a 300MW solar panel factory in Thailand.
The new $19m facility will be located in Pruckdang district in Rayong and is expected to start operating in the second half of 2016.
The multicrystalline PV panels produced will be sold by Yingli under the Yingli Solar brand name.
Hainan Yingli will hold a 40% stake in the JV.
Demeter Power Company is subsidiary of Demeter Corp.
Yingli Green Energy chairman and chief executive officer Liansheng Miao said: “Manufacturing PV panels in Thailand will enable the company to operate more competitively in overseas markets as well as in the emerging markets of south-east Asia.”
Image: Yingli
