Yingli connects 50 MW solar power plant to the power grid in China

Solar power manufacturer Yingli Green Energy Holding Co. connected its 50 MW photovoltaic solar power plant, located in Hebei Province, China, to the utility power grid.

The 50 MW PV power plant is the first and largest power plant in Handan City, Hebei Province. It is expected to produce about 54 million kilowatt-hours of solar electricity each year, offsetting about 50,000 tons of carbon emissions annually.

The project is also expected to generate annual revenue of $8.7 million from national feed-in-tariffs for the next 20 years.

The project has obtained a 10-year, $48 million financing facility from CGN International Finance Leasing, a unit of China General Nuclear Power Group (CGN). Yingli is also negotiating with a third party for the transfer of the project, which is expected to be completed in the second half of 2015.

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