Yingli cashes in on land earmarked for poly plant

Facebook
Twitter
LinkedIn
Reddit
Email

Yingli has netted RMB588.2 million (US$94.9 million) from the sale of land earmarked for the expansion of its in-house polysilicon operations.

The agreement with a local development body will see the 52.4 hectares site rezoned for non-industrial use. It provides a much-needed cash boost to the debt-laden manufacturer.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The majority of the payment, RMB500 million, was transferred on 23 April 2015.with the balance paid after the site is sold on by the Land Reserve Centre of Baoding National High-tech Industrial Development Zone.

“The purchase by the Reserve Centre of the land will benefit the local government's plan to rezone the area for commercial use and strengthen our overall cash flow,” said Miao Liansheng, chairman and CEO, Yingli Green Energy. “It will also help us to fulfill our debt paying obligations,” he added.

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 10, 2024
Dallas, Texas USA
Solar Media Events
April 17, 2024
Lisbon, Portugal
Solar Media Events
May 1, 2024
Dallas, Texas
Solar Media Events
May 21, 2024
Napa, USA