Yingli Green (YGE) Offers 38MW Solar Panels To Rural Project
Zacks Investment Research | Nov 06, 2017 08:53PM ET
Yingli Green Energy Holding Company Limited (NYSE:YGE) recently announced that it has agreed to supply 38.4 megawatts (MW) of solar panels to a rural photovoltaic (PV) poverty alleviation project in China. Per the deal, the project will utilize over 140,000 Yingli Solar panels and also adopt axis tracking system that captures more sunlight, for higher power generation.
Details of the Project
Notably, the project will utilize Yingli Green's patented Panda Bifacial panels, multi-crystalline 12 bus-bars panels and multi-crystalline black silicon panels.It includes 128 rural distributed PV poverty alleviation plants, each having a capacity to generate 300 Kilowatts (kW), which will light up 128 low-income villages.
The project is expected to come online by the fourth quarter of 2017. Once completed, it is anticipated to benefit over 10,000 low-income villagers in Zhangbei County over the next two decades.
Yingli Green’s Shipments in China
Yingli Green has been witnessing soaring demand in China. The country accounted for approximately 86.5% of the company’s total PV module shipments in the second quarter of 2017, reflecting a massive 308% sequential improvement in shipments during the quarter. Additionally, it benefited during the second quarter owing to increased customer base as a result of high PV module shipments in China.
Looking ahead, the company expects the Top Runner program, PV Poverty Alleviation projects and distributed generation projects in China to be the major driving forces for its PV module shipments in China in the second half of 2017. Notably, the company has raised expectation for 2017 shipments to the range of 2.5-2.8 gigawatts (GW) from the earlier range of 2.1-2.2 GW. Significant increase of PV module shipments in China is expected to primarily drive this.
We believe that the steady flow of contracts from China, like the aforementioned one, will aid the company to achieve its planned guidance for the year along with expanding its customer base in the country.
Solar is the Future
Solar energy has emerged as one of the most popular alternative energy sources owing to its easy availability and declining price of solar panels. Per a report from GTM Research, the global solar market will hit 85 GW in 2017, nearly doubling the installed capacity of 2014.
Naturally, to make most of the current scenario, solar companies like Yingli Green and its peers – Canadian Solar, Inc. (NASDAQ:CSIQ) and JinkoSolar Holding Company Limited (NYSE:JKS) – are making substantial investments in solar power projects to tap the benefits of the solar industry.
In a bid to expand its solar energy base, Canadian Solar recently entered into a joint-venture (JV) with Menora Mivtachim to invest in solar power projects in Israel.Both companies will invest $60 million each in these projects. (Read more: Zacks Investment Research
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