Yingli to provide 50.6 MW to X-Elio in Japan


X-Elio Energy has ordered 127,000 of Yingli’s YL265P-29b multi-crystalline solar panels for a 33.7 MW array it is developing at an undisclosed location in Japan.

The installation is expected to generate 39,400 MWh of electricity per year upon completion in October.

Yingli will also supply 52,650 of its YL320P-35b multi-crystalline modules for a 16.9 MW project that X-Elio is building in Hayato, Kagoshima prefecture.

The array is expected to annually generate 19,700 MWh of electricity upon completion in December.

Last June, X-Elio secured ¥6.4 billion ($56.3 million) of financing from Shinsei Bank to support the development of the Hayato project.

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The Madrid-based developer — known as Gestamp Solar before it was rebranded by KKR, shortly after the investment firm acquired an 80% stake in it — operates 392 MW of solar capacity at 52 locations in 15 countries.

Yingli, which previously supplied PV modules for a 20 MW project that X-Elio built in Iwate prefecture, vowed to continue to collaborate with the developer.

The Baoding-based posted revenue of $218.9 million in the third quarter, down 42.4% from the preceding three-month period.

Last week, it received a delisting warning from the New York Stock Exchange.

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