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.
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.