Yingli Green Energy PV module supplier on 10MW plant; announces overallotment option

Yingli Green, a vertically integrated PV manufacturer, is set to start providing modules on a 10MW on-grid solar plan with SDIC Huajing Power Holding in Dunhuang, Gansu Province. The provincial Development and Reform Commission in Gansu and the State Development and Investment Corporation have approved the project.

“As a leading state owned electricity supplier, we have both the responsibility and opportunity to make renewable energy a reality in China, and we believe this 10MW project demonstrates our commitment to this goal,” commented Weidong Wang, General Manager of SDIC Huajing. “Our advantage lies in our ability to leverage our established network of existing traditional power projects and manpower already on the ground in Gansu. We are confident that western regions such as Dunhuang will be big markets for solar power.”

“We are very pleased to have established this strategic alliance with SDIC Huajing,” remarked Liansheng Miao, Chairman/CEO of Yingli Green. “…We are seeking to establish strategic relationships with leading grid companies, such as SDIC Huajing, whose wealth of experience in China’s power supply market gives them unique insights into the domestic solar market.”

Yingli Green Energy is also working on expansion in its financial sector: they recently announced the exercise of an overallotment option. The company sold an additional 2,790,000 American Depositary Shares (ADSs), each representing one ordinary share of Yingli Green Energy. This measure has brought total ADSs sold by Yingli Green Energy to 18,390,000 and the aggregate net proceeds received to approximately $227.4 million after deductions.