News Article
Yingli Solar JV Emerges as Hainan's Largest PV Project Developer
Yingli Solar has announced that its joint venture ("JV"), Hainan Solar Power Co., Ltd. ("HNSP") has developed more than 100 MW of solar projects in Hainan Province, China since its establishment in 2009. Yingli Solar is the exclusive module supplier for all of HNSP's solar projects.
HNSP was formed by Yingli Energy (China) Company Limited to develop solar, wind, and hydropower projects in the island province of Hainan. Today, HNSP is the largest solar project developer in Hainan with Yingli Solar holding a 27.7% stake.
HNSP owns all of these solar projects, which were developed with a total investment of approximately RMB 1.4 billion (USD 231.5 million). The installations include utility-scale power plants, residential and commercial rooftop systems, agricultural PV applications, building-integrated PV projects, and off-grid applications. Two thirds of these solar projects are connected to the utility grid. In addition to serving as HNSP's exclusive module supplier, Yingli Solar also provided EPC services for some of the projects.
Mr. Xu Xiangcheng, General Manager of HNSP, said, "HNSP has been committed to becoming an excellent clean energy supplier to undertake social responsibility and provide green power for the society. We are deeply grateful to all parties involved for helping us make remarkable accomplishment in developing solar power projects, and especially to Yingli Solar, whose high quality modules and rich downstream experience were critical factors to our success. With the joint efforts of all parties, we believe HNSP will develop more aggressively and faster in solar project business."
"First of all, I would like to congratulate HNSP on its outstanding achievements in the development of solar projects in Hainan," said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "China is looking to PV as a key strategy for tackling its great energy demand, strengthening environmental protection and deepening ecological civilization, which means that China's solar market is brimming with great potential. Over the years, the Yingli Solar accumulated experiences through joining with state-owned enterprises to develop PV projects and found a new approach to promote downstream business across China. We believe that this diversified cooperation with state-owned enterprises will assure long-term development of our downstream business across China."
