Yingli Green Energy Holding Company Limited ("Yingli") (YGE)*, one of the world's leading solar panel manufacturers, today announced that its joint venture with Shuozhou Coal Power Co., Ltd. ("Shuozhou Coal Power"), a wholly-owned subsidiary of Datong Coal Mine Group Co., Ltd. ("Datong Coal Mine Group") has connected a 50 megawatt solar power plant that it developed to the utility grid in Shanxi province, China. Yingli holds a 30% equity stake in the joint venture, which was created to develop and construct utility-scale solar projects in Shuozhou City, one of Shanxi province's largest cities.
Based on internal system performance estimates, the project is expected to yield annual revenues of RMB 64 million ($10.3 million USD) from national feed-in-tariffs each year for the next 20 years. The system contains approximately 170,000 multicrystalline Yingli Solar panels, and the electricity they generate is expected to offset about 77,000 tons of carbon emissions annually.
"We are pleased that our JV with Datong Coal Mine Group has connected this major project in Shanxi province, a region that has directly experienced the serious, negative ecological consequences of coal mining and combustion. Our new solar power plant is a boon to the local environment as well as to the local economy," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli.