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US/China: Yingli reaches settlement with Solyndra on antitrust litigation

By  |  April 4, 2016

Chinese photovoltaics maker Yingli Green Energy said Monday it has reached a settlement on the antitrust and unfair trade practice lawsuit filed against it by the Solyndra Residual Trust in the US.

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    Under the terms of the agreement, the company and its US subsidiary — Yingli Green Energy Americas — will make an immediate payment of USD 7.5 million to Solyndra so that the lawsuit against them is dismissed with prejudice. Solyndra will also release Yingli and all of its affiliates from any similar claims or allegations in the future, the press release says.

    Also as part of the deal, Yingli and its affiliates will be required to make an additional one-time payment of USD 10 million to Solyndra if their shipments to the US and Canada reach or exceed 800 MW in a single calendar year between 2016 and 2018, the Chinese firm added.

    “While we continue to reject Solyndra’s claims as baseless, our team is satisfied with the settlement’s terms and we are pleased to conclude litigation,” Yingli chairman and CEO, Liansheng Miao, noted.

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