Yingli Green Energy Holding Company Limited announced that it has sold an 18.8 megawatt (MW) solar power plant in Essex, United Kingdom, to NextEnergy Solar Fund, a specialist investment company listed on the London Stock Exchange and a leading owner of operating solar power plants in the UK.
The solar power plant is located on the former Boxted Airfield in the north of Colchester and covers more than 50 acres of land. It was completed and connected to the grid in March 2015, and is expected to produce enough energy to power nearly 5,700 average UK households each year.
“The sale of this project is in line with Yingli’s global strategy to move downstream by developing and selling power generation assets at an attractive return, and provides us with additional capital to fund our growing global project development business, which includes a qualified utility-scale project pipeline of nearly 300 MW outside of China,“ commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli. “Through strong cooperation with our partners we are committed to push the project development business forward with the core principles of ‘less capital investment and a diversified service portfolio.”