Yingli Green Energy starts construction of 25MW solar projects in China

10 April 2014 (Last Updated April 10th, 2014 18:30)

Yingli Green Energy has started construction of its two ground-mounted solar photovoltaic (PV) projects totalling 25MW in the Baoding and Xingtai cities of Hebei province, China.

Yingli Green Energy has started construction of its two ground-mounted solar photovoltaic (PV) projects totalling 25MW in the Baoding and Xingtai cities of Hebei province, China.

According to the company, the relevant grid connection permits have been received for the projects that are estimated to cost more than RMB200m ($33m).

Approximately 75% of the costs for the total projects would come through loans from domestic banks, while the remaining will be provided by the company's subsidiary Yingli China.

Yingli Green Energy will deliver the PV modules for the projects that will be completed and connected to the grid at the beginning of the third quarter of 2014.

"In the meantime, we are in talks with a potential buyer on sale of the projects to such buyer after their completion"

Upon completion, the projects will generate around 28,700MWh of electricity annually, while emitting more than 28,700t of CO2 and offsetting the consumption of 9,300t of coal.

The operational life of the solar PV projects is expected to be 25 years.

Yingli Green Energy CFO Yiyu Wang said the new solar projects would enhance the company's business operations in the country.

"In the meantime, we are in talks with a potential buyer on sale of the projects to such buyer after their completion," Wang said.

The company manufactures solar PV modules and operates more than 30 regional subsidiaries and branch offices across the nation.

Nri