Yingli Green Energy Holding Co Ltd, a vertically integrated photovoltaic (PV) product manufacturer, has announced its recent business developments in the China market.
The company said it has established a strategic alliance with a subsidiary of China Guangdong Nuclear Power Holding Co Ltd (CGNPC) to explore the opportunities for development of on-grid solar projects both in China and overseas markets.
Yingli Green Energy has agreed with Hainan Provincial Development Holding Co Ltd (Hainan Development), a state-owned enterprise, to form a joint venture, Hainan Yingli New Energy Resources Co Ltd (Hainan Yingli), to build manufacturing facilities with annual production capacity of 100MW in each of polysilicon ingots and wafers, PV cells and PV modules in Haikou, Hainan Province. Under the agreement, Yingli Green Energy will hold an 80% equity interest in Hainan Yingli.
In addition, the company will form another JV with Hainan Development and Hainan Provincial Water Conservancy & Power Group Co Ltd, a state-owned enterprise in Hainan Province. Named Hainan Green Islands Power Co Ltd (Green Islands Power), the new JV will develop and operate on-grid solar projects in Hainan Province. Under the agreement, Yingli Green Energy will hold a 20% equity interest in Green Islands Power. It is expected that Green Islands Power will develop on-grid solar projects totaling up to 300MW from 2009 to 2011 in Hainan Province.
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