Yingli Sells 18.8 MW Solar Power Plant To NextEnergy Solar Fund
- Published: Monday, 10 August 2015 08:43
Yingli Green Energy Holding Company Limited, one of the world's leading solar panel manufacturers, has announced that it has sold an 18.8 megawatt (MW) solar power plant in Essex, to NextEnergy Solar Fund.
The solar power plant is located on the former Boxted Airfield in the north of Colchester and covers more than 50 acres of land. It was completed and connected to the grid in March 2015, and is expected to produce enough energy to power nearly 5,700 average UK households each year.
"The sale of this project is in line with Yingli's global strategy to move downstream by developing and selling power generation assets at an attractive return, and provides us with additional capital to fund our growing global project development business, which includes a qualified utility-scale project pipeline of nearly 300 MW outside of China," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli. "Through strong cooperation with our partners we are committed to push the project development business forward with the core principles of 'less capital investment and a diversified service portfolio."
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (NYSE: YGE), known as "Yingli Solar," is one of the world's leading solar panel manufacturers. Yingli Green Energy's manufacturing covers the photovoltaic value chain from ingot casting and wafering through solar cell production and solar panel assembly. Headquartered in Baoding, China, Yingli Green Energy has more than 30 regional subsidiaries and branch offices and has distributed more than 13 GW solar panels to customers worldwide. For more information, please visit www.yinglisolar.com and join the conversation on Facebook, Twitter and Weibo.
About NextEnergy Solar Fund
NextEnergy Solar Fund Limited (the "Company") is a Guernsey incorporated investment company focusing on operational solar photovoltaic ("PV") assets located in the UK. It is listed on the premium segment of the London Stock Exchange under the symbol NESF.L. The Company has raised over GBP240 million by way of a Placing and Offer for Subscription of Ordinary Shares. The Company seeks to provide investors with a sustainable and attractive dividend that increases in line with RPI over the long term and an element of capital growth through the re-investment of net cash generated in excess of the target dividend. For more information on the Company, please visit www.nextenergysolarfund.com.
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Yingli Green Energy's control, which may cause Yingli Green Energy's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in Yingli Green Energy's filings with the U.S. Securities and Exchange Commission. Yingli Green Energy does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.