Solar

Yingli Planning 10-MW Solar Plant in China

Yingli Green Energy Holding Company Limited announced that it has entered into a framework agreement with the local government of a county in Beijing, China regarding the proposed construction of a 10-megawatt (MW) solar energy plant.

Under the framework agreement, a wholly-owned subsidiary of Yingli Green Energy and an entity controlled by the county government would establish a new company to construct the plant. Subject to further negotiations, the construction of the project would be expected to begin in the second half of 2009.

“We are excited about this opportunity to construct an on-grid solar power plant in Beijing, which would be the first solar power plant we construct and operate,” said Liansheng Miao, CEO of Yingli Green Energy. “We believe our participation in this project is in line with our strategy of expanding into downstream applications of PV technology and will further strengthen our vertical integration business model.”