Yingli Green Energy Obtains Funding for New Solar PV Project in China

New Solar PV Project in China
New Solar PV Project in China

New Solar PV Project in China – ( Solar Thermal Magazine)

As China continues to grow it’s economy, middle class and power requirements the demand for a cleaner form of energy than coal has become increasingly important. In the news today, we are happy to report there is more expansion in their solar energy capacity.

Yingli Green Energy Holding Company Limited has announced that it has obtained financing for a 50 megawatt (MW) PV power plant in China.

Located in Handan City, Hebei Province, the 50 MW PV power plant is expected to generate approximately 54 million kilowatt-hours of solar electricity annually, offsetting over 50,000 tons of carbon emissions. Construction and interconnection of the project are expected to be completed by the end of May 2015.

The funding requirement for this project was RMB300 million (USD48 million).¬†The 10-year direct financing lease for the project’s development and construction was provided by CGN International Finance Leasing, a wholly-owned subsidiary of China General Nuclear Power Group (CGN).

Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy, had to say about the project:

We are pleased to begin our relationship with CGN International Finance Leasing, and believe that our partnership is a key breakthrough for Yingli’s downstream business development.

We anticipate that more Chinese financial institutions will ramp up activities in PV project development moving forward.”

 

About Gordon Smith
Gordon's expertise in the area of industrial energy efficiency and alternative energy. He is an experienced electrical engineer with a Masters degree in Alternative Energy technology. He is the co-founder of several renewable energy media sites including Solar Thermal Magazine.