The two projects will have a combined capacity of 25 MW and are located in the cities of Baoding and Xingtai of Hebei Province. The company’s wholly-owned subsidiary, Yingli Energy (China) Co. enjoys 100% economic interest in the projects through exclusive agreements with the projects’ developers.
As such, it will be entitled to all economic benefits from the projects after their completion. The total investment in the projects are expected to be more than $33 million, approximately 75% of which will be funded by committed loans from domestic banks and approximately 25% of which will be provided by Yingli China.
The two projects have received relevant grid connection permissions. Yingli Solar will supply the PV modules to be used in the projects. The projects are expected to be completed and connected to the grid at the beginning of the third quarter of 2014. Once completed, they will generate approximately 28,700 MWh per year, which is equivalent to offsetting the consumption of 9,300 tons of coal and cutting CO2 emissions by more than 28,700 tons over the systems’ 25-year lifetime.
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