Greentech Lead Asia: Yingli Green Energy, a vertically integrated photovoltaic manufacturer, announced its wholly owned subsidiary, Yingli Energy (China), has succeeded in bidding for supplying 220 MW multicrystalline PV modules for China Power Investment Corporation (CPI) before the end of 2013.
These modules are expected to be used for five PV power plants developed by CPI in Hebei Province and Qinghai Province in China.
“We’re very pleased to enhance our cooperation with CPI following the delivery of 110 MW modules to its subsidiary Huanghe Hydropower in 2011,” said Liansheng Miao, chairman and chief executive officer of Yingli Green Energy. “The enhanced cooperation fully illustrates our partner’s recognition of our brand, product quality and services.
“By leveraging our increasingly broad domestic sales and service networks, we look forward to further solidifying our leadership position and expanding our market share in China,” Miao added.
This development follows Yingli China’s recent signing of two loan agreements with China Development Bank (CDB) with an aggregate of US$ 165 million.
CDB will provide Yingli China with a one-year loan of US$110 million and a three-year loan of US$55 million to complement its working capital needs and support the procurement of raw material.