Yingli secures South African deal
Yingli Green has announced that the Company has signed a contract to supply 96 MW of PV modules to the Jasper PV, located in South Africa's Northern Cape. This solar plant will not only produce clean energy for South African residents, but also create jobs and help to stimulate the local economy.
The consortium formed by Iberdrola Ingenieria y Construccion ("Iberdrola") and South African company Group Five has been selected by Jasper Power Company to build the Jasper PV Plant in South Africa, which will be powered by more than 325,000 Yingli YL295P-35b multi-crystalline modules spread across 180 hectares. Yingli Green Energy is the exclusive PV module supplier for this project.
This is a significant milestone in the history of Yingli Green Energy as the Jasper PV Solar Plant is one of the solar projects that was developed by a consortium led by SolarReserve, a U.S. developer of utility-scale solar power projects, and was selected by the South Africa Department of Energy (DOE) in May of 2012 in the second round of bids under the South Africa Renewable Energy Independent Power Producer Procurement Program (REIPPPP). The South Africa DOE awarded the construction of eight PV plants and seven wind farms during the second round of bidding.
Iberdrola had selected Yingli Green Energy based on experience of performance yield in existing projects, superb quality and technology leadership. In addition, given that Yingli Green Energy is one of the major crystalline manufacturers to have secured Munich RE's module performance warranty insurance, the project will also be covered under Munich RE's Option Cover. The Option Cover provides greater investment security over the lifetime of the project financing.
"This project is a major milestone in our strategy to bring affordable green energy for all into emerging markets like Africa," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "We are also delighted that our strategic alliance with Munich RE has enabled Iberdrola, with whom Yingli Green Energy has been collaborating in different projects worldwide since 2006, to reduce project investment risk that has helped to lower financing barriers."
"We are proud to be part of South Africa's progressive program to advance clean energy, and we are excited to have Yingli as a supplier. Our Jasper project will provide substantial, long-term economic benefits to the region and help the country meet its impressive clean energy goals," said Kevin Smith, CEO of SolarReserve. "The South African government's advanced energy projects are allowing the country to quickly become a model for not only the rest of the continent, but for the world. We look forward to continuing our work on Jasper and on our other photovoltaic and solar thermal projects in development in South Africa."
"We are happy to support one of our strategic global clients in securing this project in South Africa and we look forward to building on this success by bringing more green and clean electricity to African homes and businesses," said Fernando Calisalvo, Managing Director Yingli Green Energy Spain.
The Renewable Energy IPP Programme is an ambitious project that will launch a bidding process for a total capacity of 3,725 MW through five rounds. The South African Government recently announced its intention to launch a new renewable energy programme, once the current one has been completed, in order to add another 3,200 MW of clean electricity generation to the grid before 2020. Because of these targets, South Africa has become one of the countries with the greatest potential in the renewable energy sector.
Jasper PV Solar Plant is one of the largest solar projects in South Africa at present, and is expected to produce enough energy to power more than 30,000 homes in the area. Moreover, it is expected to avoid the emission of 145,891.43 tons of CO2 every year.
