Yingli Green Energy is celebrating the success of its joint venture, Hainan Solar Power (HNSP), which has surpassed the 100 MW mark in solar project development in Chinas Hainan Province.
Formed in in 2009 by Yingli Energy China and two state-owned companies, Hainan Development Holdings and Hainan Provincial Water Conservancy & Hydropower Group, HNSP develops solar, wind and hydropower projects on the island province of Hainan.
The company is currently the largest solar project developer in Hainan. After several rounds of capital increases, Yingli Solar now holds a 27.7% stake in HNSP and is the joint ventures exclusive module supplier for all of its solar projects.
HNSP owns all of the solar projects, which were developed with a total investment of approximately CNY 1.4 billion ($231.5 million). Installations include utility-scale power plants, residential and commercial rooftop systems, agricultural PV applications, building-integrated PV projects and off-grid applications. Two-thirds of the solar projects are connected to the utility grid. Yingli also provided engineering, procurement and construction services for some of the projects.
Hainan province is in a unique position to develop solar power in light of its long hours of sunshine and strong solar radiation.
In congratulating HNSP, Yingli Chairman and CEO Liansheng Miao said, "China is looking to PV as a key strategy for tackling its great energy demand, strengthening environmental protection and deepening ecological civilization, which means that China’s solar market is brimming with great potential. Over the years, the 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."