Yingli to supply 130MW of panels to Qingdao New Energy Solutions

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Chinese manufacturer Yingli Green has signed several agreements with agricultural and industrial building-integrated photovoltaic (BIPV) provider Qingdao New Energy Solutions (NESI) for the supply of 130MW of solar panels.

The panels will be used in utility-scale projects, industrial rooftop systems and BIPV agricultural solutions in Zhejiang, Inner Mongolia, Shandong and other provinces in China.

Yingli said it was in the process of delivering the first 30MW and expects to complete the delivery by the end of September.

The firm will supply the remaining 100MW of solar panels by the end of the second quarter of 2016.

Yingli will provide NESI with more than 500,000 multicrystalline YGE 60 Cell Series solar panels. The cells are expected to generate approximately 150,000 MWh of clean energy per year.

The precarious financial position of Yingli Green was highlighted recently in its second quarter financial results and subsequent earnings call with financial analysts. The company had slashed its third quarter and full-year PV module shipment guidance from a range of 3.6GW to 3.9GW to only 2.5GW to 2.8GW. PV Tech assessed that Yingli Green would have approximately 1,350MW of unused capacity in 2015, resulting in average utilisation rates of around 63% to 65% in 2015. 

However, Yingli Green management noted in its earnings call that it was working with an unspecified number of other Chinese PV manufacturers to provide tolling (OEM) module services to keep production utilisation rates as high as 90% through the second half of the year.

Shen Jianfei, chief operations officer of NESI, said: “In August, NESI announced our collaboration with several state-owned banks and other entities to establish China's first agricultural PV project fund. As such, we intend to gradually increase our exposure to solar PV assets and hope to continue partnering with Yingli as we do so.”

Gang Wang, vice president of Sales of Yingli Green Energy: “Our new partnership with NESI exemplifies Yingli's strategic effort to expand relationships with China's leading private enterprises, which has resulted in 350 MW of supply agreements with cash before delivery in 2015.”

Yingli also announced recently that it had entered into an agreement with CFC Group Construction to supply 170MW of solar panels for utility-scale PV plants in the Hebei province of China, marking Yingli’s largest ever panel supply agreement in China.

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