Chinese renewable firm Yingli Green Energy (Yingli Solar) has signed multiple agreements with Qingdao New Energy Solutions (NESI) for delivering solar panels with a total energy capacity of 130MW.
Panels to be delivered by Yingli Solar will be deployed across utility-scale projects, industrial rooftop systems, and building-integrated photovoltaic (BIPV) agricultural solutions in Zhejiang, Inner Mongolia, Shandong, and other Chinese provinces.
The firm has already initiated the first 30MW phase of equipment delivery for NESI’s Chinese power projects, which is expected to be completed by the end of the month.
Scheduled delivery for the remaining 100MW of equipment is likely to be made by the end of the second quarter of 2016.
Under the terms of the agreement, Yingli is expected to supply more than 500,000 multicrystalline YGE 60 cell series solar panels that will have a combined generation capacity of around 150,000MW hours of power a year.
Once operational, the panels will be able to offset 120,000t of carbon emissions in a year.
NESI COO Shen Jianfei said: "In August, NESI announced our collaboration with several state-owned banks and other entities to establish China’s first agricultural PV project fund.
"As such, we intend to gradually increase our exposure to solar PV assets and hope to continue partnering with Yingli as we do so."
Yingli Green Energy Sales vice-president Gang Wang said: "Our new partnership with NESI exemplifies Yingli’s strategic effort to expand relationships with China’s leading private enterprises, which has resulted in 350MW of supply agreements with cash before delivery in 2015.
"With demand expected to grow in China through the second half of 2015, Yingli is focused on expanding our domestic footprint by strengthening our customer relationships and continuing to supply our high-quality products to this key market."
Earlier this month, the firm won another deal for 170MW of solar panel delivery from CFC Group Construction, which is the largest solar panel supply agreement to date for Yingli in the country.