Yingli Green inks 110MW supply deal with Huanghe Hydropower in China
Yingli Green Energy (NYSE:YGE) the solar photovoltaic (PV) manufacturer, announced that it has agreed to supply Huanghe Hydropower Development Co. with 110 megawatt PV modules.
Under the deal's terms, Yingli will supply 30 megawatt and 80 megawatt PV modules for solar projects in Wulan, and Golmud, found in the Qinghai province, China. No financial details of the deal were disclosed.
The modules, expected to be delivered from June to August, will be used for two ground-mounted solar projects constructed by Huanghe Hydropower, Yingli said in a news release. Huanghe Hydropower is a subsidiary of China Power Investment Corp.
"This new business relationship represents our continued commitment to the China solar PV market, which has experienced rapid growth over the recent two years," said chief executive of Yingli Green Energy, Liansheng Miao.
"These two projects will provide tens of thousands of people with clean and safe power, as well as create green jobs and promote sustainable economic development of Qinghai province," added Miao.
Yingli's shares in pre-market trade were up 2.21% on Thursday, or 19 cents, to $8.77 as of 9:22 a.m.
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