Yingli Green Energy Holding Company Limited today announced that it has connected its 50MW PV power plant, located in Hebei Province, China, to the utility grid.
The 50MW PV power plant is the first and largest power plant in Handan City, Hebei Province. It is expected to produce approximately 54 million kilowatt-hours of solar electricity each year, offsetting about 50,000 tons of carbon emissions annually. The project is also expected to generate annual revenue of RMB 54 million ($8.7 million USD) from national feed-in-tariffs for the next 20 years.
The project has obtained a 10-year, RMB 300 million (USD 48 million) financing facility from CGN International Finance Leasing. Yingli is also negotiating with a third party for the transfer of the project, which is expected to be completed in the second half of 2015.
"With this 50MW project, Yingli has now successfully connected approximately 180MW of projects to the utility grid. We plan to accelerate our downstream activities moving forward to both expand and diversify our revenue sources," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy.