Chinese vertically integrated renewable energy company Yingli Green Energy has today connected a 50 MW solar PV plant in China as part of a joint venture (JV) with Shuozhou Coal Power Co.
Under the terms of the JV, Yingli holds a 30% equity stake in the arrangement, and has supplied 170,000 of its multicrystalline solar panels for the project, which is located in Shanxi province, China.
The JV was created to construct, develop and connect utility-scale solar plants in Shuozhou City, which is one of the largest conurbations in the regions.
This inaugural solar plant developed by the JV will yield annual revenues of $10.3 million under Chinas feed-in tariff (FIT) for the next 20 years.
"We are pleased that our JV with Datong Coal Mine Group [which owns Shuozhou Coal Power] has connected this major project in Shanxi province, a region that has directly experienced the serious, negative ecological consequences of coal mining and combustion," said Yingli Solar CEO and chairman Liansheng Miao. "Our new solar power plant is a boon to the local environment as well as to the local economy."
The fully operational plant will offset an estimated 77,000 tons of carbon emissions annually, Yingli Solar added.