Yingli Group to Manage Guangwei Cell Project

Guangwei Green Energy started construction of a 66.7-hectare multicrystalline silicon solar cell project with planned annual capacity of 600MW in Hebei province on February 27, reports newenergy.org.cn. Longjitaihe Industry Group intends to invest a total of RMB 4.2 billion in the project, while Yingli Group, the parent company of Yingli Green Energy (NYSE:YGE), has agreed to manage the project for two years and aid in product development, raw material purchasing and sales. The project is scheduled to begin production at annual capacity of 300MW in September to generate sales revenue of RMB 7.5 billion and create more than 5,000 jobs.