August 22, 2008 / 1:41 PM / 11 years ago

Yingli plans to construct China solar power plant

NEW YORK (Reuters) - China-based solar products maker Yingli Green Energy Holding Co said on Friday that it had entered into an agreement with the local government of a county in Beijing to build a 10 megawatt solar power plant.

Yingli shares rose 4.6 percent to $16.10 in early New York Stock Exchange trade.

Under the agreement, a wholly owned subsidiary of Yingli and an entity controlled by the county government would establish a new company to construct the plant.

Construction is expected to begin in the second half of 2009.

Reporting by Euan Rocha; Editing by Lisa Von Ahn

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