Yingli Green Energy Connects a 50MW Plant in Hebei
Published By : 16 Jun 2015 | Published By : QYRESEARCH
The solar panel manufacturing company Yingli Green Energy has recently connected their 50 megawatt capacity PV plant which is located in Hebei Province in China to the grid. This installation is one of the first and the largest power plant in the Handan City in the province of Hebei and is projected to produce approximately 54 million kilowatts of solar energy. This will offset around 50,000 tons of greenhouse emissions each year.
This plant set up by Yingli Green Energy is projected to bring in an annual revenue of around US$8.7 million that will be generated from the feed in tariffs in the coming 20 years. The firm Yingli Green Energy has now acquired a ten year, financing facility worth US$48 million from the CGN International Finance Leasing, which is a subsidiary of China General Nuclear Power Group (CGN).
According to the Chairman and Chief Executive Officer, Liansheng Miao stated that this 50 megawatts project from Yingli is now successfully connected to around 180 megawatts of projects to the utility grid. The CEO further stated that they are planning to accelerate their downstream activities to move forward in both diversity and expand their revenue sources.
However, this recent connection has been initiated in a time of uncertainty for the firm as this firm delayed annual report in the month of May showed that the firm can face an uncertain future as a result of the debt and industry risks.
Yingli Green is the globe’s second largest solar manufacturer and there are substantial doubts about its ability to continue. In the annual report released in May, the firm stated that their level of debt, inability to boost new finance, and sequential losses could mean that the company is facing an uncertain future. This filing was released after markets in the nation United States closed and were able to confirm these fears.