Yingli Solar — the biggest vertically integrated photovoltaic module manufacturer on the planet — recently announced that it’s wholly-owned subsidiary, Yingli Energy Company Limited, has entered into a framework agreement with United PV for the purchase of a number of solar PV plants that are to be developed and built by Yingli Green Energy.
As per the agreement, United PV will purchase at least 300 MW worth of large-scale solar PV energy systems between the years of 2014–2016. The PV plants in question are to be built primarily in provinces of Hebei, Guangxi, Shanxi, and Shandong.
The project companies set up by Yingli China will hold 100% equity in the power plants, and be completely responsible for the development, construction, and operation, of the projects. United PV will only acquire said project companies from Yingli after the projects have been connected to the grid, and inspected by company reps to ensure that they meet a number of criteria outlined in the agreement.
“The collaboration with Yingli Green Energy will benefit both of our companies as we work to expand China’s installed solar capacity through large-scale PV projects and create the leading operation platform for solar PV plants in China. Yingli Green Energy is one of the global PV industry leaders and the world’s largest PV module manufacturer – they are experienced and capable in developing high quality solar plants. Together, we look forward to further cooperative opportunities in PV across the globe,” stated Mr Hong LI, Chief Financial Officer of United PV.