Yingli Green Energy Holding Company Limited (“Yingli” or “Yingli Solar”) (NYSE:YGE), one of the world’s leading solar panel manufacturers, today announced that it is supplying 240 megawatts (MW) of solar panels for Latin America’s two largest hybrid solar photovoltaic (PV) and concentrated solar power (CSP) power plants. Both projects, located in northern Chile, will also be equipped with 110 MW of CSP and 17.5 hours of thermal storage each.
As the power plants’ sole PV supplier, Yingli is providing over 780,000 multicrystalline utility-scale YGE 72 Cell solar panels to the projects, which be installed in two phases. The first phase of panel deliveries was recently completed, and the second phase will start in August. The first power plant is expected to be operational by mid-2016.
Once complete, the PV portion of the solar power plants will occupy nearly 100,000 acres of land in total. Both projects will be connected to the national utility grid and deliver an uninterrupted power supply to commercial, industrial, and residential customers throughout Chile, offsetting approximately 385,000 tons of carbon emissions each year.
“We are pleased to be the exclusive solar PV panel provider for the two largest hybrid solar power plants in Latin America,” said Mr. Fernando Calisalvo, Managing Director of Yingli Green Energy Spain. “We believe that supplying projects of this magnitude and significance will cement our leadership position in Latin America, one of the world’s highest potential emerging markets.”
Mr. Liansheng Miao, Chairman and CEO of Yingli Green Energy commented, “Our demonstrated ability and proven experience supplying large-scale hybrid solar power plants, including the projects announced today as well as PV-diesel systems, will be a compelling differentiator for Yingli. Demand for these innovative applications is growing, especially in emerging markets, and we are committed to meeting that demand worldwide with our high quality products.”
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.