Yingli grid connects 50 MW PV plant in China

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The Chinese PV panel manufacturer says the 50 MW plant is both the first and largest of its kind in Handan City. It adds that over the next 20 years, a revenue of RMB 54 million (US$8.7 million) will be generated from feed-in tariffs.

Overall, Yingli received a 10-year, RMB 300 million ($48 million) financing facility from CGN International Finance Leasing for the project. The company is currently in negotiations to transfer the project to an unidentified third party. The transaction is expected to be completed in the second half of the year.

"With this 50 MW project, Yingli has now successfully connected approximately 180 MW of projects to the utility grid. We plan to accelerate our downstream activities moving forward to both expand and diversify our revenue sources," commented Liansheng Miao, Yingli chairman and CEO.

China recently raised its solar PV 2015 installation target from 15 to 17.8 GW. In its latest Renewable Energy Country Attractiveness Index, Ernst & Young (EY) reports that the Chinese government has requested detailed action plans for achieving this from 26 provinces. Overall, China topped both EY’s renewable energy and solar indices.