Yingli to ship 170 MW PV modules for projects in China

Share

Some good news for the troubled Chinese solar PV manufacturer, which received an official NYSE-delisting notice in August following news of its debt issues: It has signed a 170 MW module supply deal with CFC Construction.

In the third and fourth quarters of this year, Yingli is set to deliver 650,000 of its multicrystalline YGE Series modules for utility-scale solar projects in the city of Zhangjiakou, in China’s Hebei province. The city is said to be ideal for solar development due to its high electricity demands and abundant solar resources. It also recently won the rights to host the 2022 Winter Olympic Games together with Beijing.

At the beginning of the month, Yingli reported decreased revenues and profits. Falling module shipments were to blame, with the company shipping just 727.9 MW in Q2, compared to 754.2 MW in Q1 and 887.9 MW in Q2 2014.

Over the course of the year, it has lost around two-thirds of its market value, and first warned its shareholders in May that the company had doubts about its ability to continue as a going concern given its hefty debt burden. Bloomberg has reported that the company may need to take a debt reorganization in order to survive in 2016.