PV module manufacturer Yingli Green Energy has begun on two ground-mounted PV plants in Hebei Province, China.
The two facilities, which have a combined capacity of 25MW, will be located in the cities of Baoding and Xingtai. Yingli is planning to sell the plants following completion.
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The total investment in the plants is expected to be more than RMB 200 million (US$33 million), of which 75% will be funded by loans from domestic banks. Yingli Green Energy will fund the remaining 25%.
The two projects are expected to be completed and grid-connected at the start of the third quarter of 2014.
Yiyu Wang, chief financial officer of Yingli Green Energy, said: “We are thrilled to continue expanding our downstream business. … These projects will further consolidate our leading position in the industry not only as a PV manufacturer, but also as a solar energy solutions provider. In the meantime, we are in talks with a potential buyer on sale of the projects to such buyer after their completion.”
Once completed, the two projects will generate a combined output of 28,700 MWh a year – equivalent to cutting CO2 emissions by 28,700 tonnes over both plants' 25-year lifespan.
