Solar panel manufacturer Yingli Green Energy has connected its 50MW PV plant — located in Hebei Province, China, to the grid.
The installation is the first and largest power plant in Handan City and is expected to generate around 54 million kWh of solar energy annually, offsetting about 50,000 tonnes of carbon emissions per year.
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The plant is set to pull in an annual revenue of US$8.7 million from national feed-in tariffs over the next 20 years.
Yingli has already acquired a 10-year, US$48 million financing facility from CGN International Finance Leasing, a subsidiary of China General Nuclear Power Group (CGN).
Liansheng Miao, chairman and chief executive officer of Yingli Green Energy, said: “With this 50 MW project, Yingli has now successfully connected approximately 180 MW of projects to the utility grid. We plan to accelerate our downstream activities moving forward to both expand and diversify our revenue sources.”
This recent connection comes in a time of uncertainty for Yingli, as a delayed annual report from May noted that the company could face an uncertain future due to debt and industry risks.
