Dallas, Texas 02/11/2014 (FINANCIALSTRENDS) – China based solar equipment and semiconductor manufacturer Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE) announced in the last week of January that its joint venture company Hainan Solar Power Co., Ltd has succeeded in commissioning new solar projects totalling to 100 MW of power production capacity since the JV came into being in 2009. It is appropriate to note here that the Boading city head quartered Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE) is the sole supplier of solar panel modules to all solar farm projects taken up by Hainan Solar Power Co., Ltd.
Hainan Solar Power Co., Ltd was formed in 2009 as a JV between Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE) fully owned subsidiary Yingli Green Energy and two public sector undertakings “Hainan Development Holdings Co., Ltd., and Hainan Provincial Water Conservancy & Hydropower Group Co., Ltd”. This Joint venture vehicle bids for and executes hydroelectricity, tidal, wind and solar power projects in the province of Hainan. Over the past five years, Hainan Solar Power Co., Ltd has emerged as the largest solar park operators and solar power generators in the island province. The 100% owned subsidiary of Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE) currently owns 27.7 percent stake in Hainan Solar Power Co., Ltd.
In the past five years, Hainan Solar Power Co., Ltd has built out three stand alone solar power projects across the island province, with sunk in cost adding up to $231.5 million. The solar power generation yields both grid and non grid power, with 75 percent of the power output getting fed into the central grid.
Commenting on the successful completion of 5 years of operations, Hainan Solar Power Co., Ltd General Manager Xu Xiangcheng has been quoted to have said that, “HNSP has been committed to becoming an excellent clean energy supplier to undertake social responsibility and provide green power for the society.”