Chinese tier one manufacturer Yingli Green announced this week that its joint venture (JV) Hainan Solar Power has now developed in excess of 100MW of photovoltaic (PV) projects in Hainan Province, China.
Yingli holds a 27.7% stake in Hainan Solar Power, which was formed in 2009 along with Hainan Development Holdings and Hainan Provincial Water Conservancy and Hydropower Group, both of which are state-owned companies.
China’s smallest and southernmost province, Hainan, is an island which enjoys longer hours of sunshine and stronger solar irradiance than the majority of the rest of the country, putting it in an especially good natural position to accommodate solar power.
The projects required RMB1.4 billion (US$231.5 million) of investment and include utility-scale plants, residential and commercial, agricultural, building-integrated PV (BIPV) as well as off-grid applications. Hainan Solar Power owns all of the projects, with Yingli providing engineering, procurement and construction (EPC) duties to some. Yingli was sole module provider for every project, two thirds of which are connected to the grid.
The general manager of Hainan Solar Power, Xu Xiangcheng reiterated the company’s commitment to social responsibility and to providing clean power for society. He also thanked all the parties involved and stated the company’s future mission.
“With the joint efforts of all parties, we believe Hainan Solar Power will develop more aggressively and faster in solar project business,” Xiangcheng said.
Yingli chairman Linshiang Miao said: “Over the years, Yingli Solar accumulated experiences through joining with state-owned enterprises to develop PV projects and found a new approach to promote downstream business across China. We believe that this diversified cooperation with state-owned enterprises will assure long-term development of our downstream business across China.”
A recent report from analysts NPD Solarbuzz claimed that Yingli shipped over 900MW of modules in the final quarter of 2013, with Yingli and Trina Solar sharing 15% of the overall global market.