Chinese solar panel manufacturer Yingli is selling an 18.8-megawatt solar power plant it owns at Essex in the United Kingdom to NextEnergy Solar Fund.
Located on a 50-acre portion of the repurposed Boxted Airfield north of Colchester, the project was commissioned and grid connected in March. It is expected to produce adequate energy to meet average power requirements of 5,700 households in the UK each year.
Yingli has been working to develop its downstream projects by selling its power generation assets.
The company plans to use the capital generated from the sale to fund growth of its global project development business. It includes a utility-scale project pipeline of nearly 300 megawatts outside China.
Ajith Kumar S