Yingli Green Energy to supply multicyrstalline modules for four projects in UK

27 August 2014 (Last Updated August 27th, 2014 18:30)

Yingli Green Energy, a vertically integrated photovoltaicmodule manufacturer in the world, will supply multicyrstalline modules to Push Energy Ltd. for four large-scale PV power projects in the UK.

solar panels

Yingli Green Energy, a vertically integrated photovoltaicmodule manufacturer in the world, will supply multicyrstalline modules to Push Energy for four large-scale PV power projects in the UK.

The four projects, which will be located in East Anglia, will together have a renewable electricity capacity of up to 66MW.

These projects are expected to be completed by February next year.

In addition to collaborating with landowners, local stakeholders, planners and the power networks to supply renewable power into the grid for local consumption, the company has expertise in farming and conservation management.

Push Energy finance director Jason Wallis said,"Solar PV farms have an important role to play in the UK's long-term energy security.

"Working with strong partners such as Yingli Green Energy is critical to our vision for the future."

Yingli Green Enegy CEO and chairman Liansheng Miao noted: "We are committed to working with well-established companies with a solid project pipeline such as Push Energy.

"It also supports our long-term commitment to the UK market where we see sustainable growth potential in the coming years."

In the first quarter of 2014, Europe represented 18% of its shipments as against 10% in the fourth quarter of 2013, due to demand from utility-scale projects in the UK.

Based in Baoding, China, Yingli has more than 30 regional subsidiaries and branch offices and has distributed more than 10,000MW of PV modules so far.

"Solar PV farms play an important role in the UK's energy security - working with strong partners such as Yingli Green Energy is critical to our vision for the future. "

Yingli, whose panels powered the Maracana stadium for the 2014 Fifa World Cup final in Brazil, had reported a loss that was higher than expected in the second quarter of fiscal 2014.

The firm had cut its 2014 forecast on panel shipments as it has been imposed with high duties in the US.

The company predicts to supply 3.6GW to 3.8GW of panels this year, as against its previous forecast of 4GW to 4.2GW.

Yingli expects the shipments to the US to represent only one-tenth of total shipments in the next quarter.

The company has been imposed a tariff of 42.33%, which is higher than the industry average duty of around 31%.

Tariffs imposed differ from firm to firm, as it is based on the assessment done by the US Department of Commerce on a company's 'dumping' practices, reports Reuters.

The company's revenues dropped to $549.5m from $550.4m, while the overall gross margin grew from 11.8% in the second quarter of fiscal 2013 to 15.6% in the corresponding quarter of 2014, which in turn helped cut down the net loss to $46m, from $52.3m a year earlier.


Image: Yingli Green will supply multicyrstalline modules to Push Energy. Photo: courtesy of dan/Freedigitalphotos.net.

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