BAODING, China | Yingli Green Energy —
Yingli has sold an 18.8 megawatt (MW) solar power plant in Essex, United Kingdom, to NextEnergy Solar Fund, a specialist investment company listed on the London Stock Exchange and a leading owner of operating solar power plants in the UK.
The solar power plant is located on the former Boxted Airfield in the north of Colchester and covers more than 50 acres of land.
It was completed and connected to the grid in March 2015, and is expected to produce enough energy to power nearly 5,700 average UK households each year.
“The sale of this project is in line with Yingli’s global strategy to move downstream by developing and selling power generation assets at an attractive return, and provides us with additional capital to fund our growing global project development business, which includes a qualified utility-scale project pipeline of nearly 300 MW outside of China,” commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli. “Through strong cooperation with our partners we are committed to push the project development business forward with the core principles of ‘less capital investment and a diversified service portfolio.”
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (NYSE: YGE), known as “Yingli Solar,” is one of the world’s leading solar panel manufacturers. Yingli Green Energy’s manufacturing covers the photovoltaic value chain from ingot casting and wafering through solar cell production and solar panel assembly. Headquartered in Baoding, China, Yingli Green Energy has more than 30 regional subsidiaries and branch offices and has distributed more than 13 GW solar panels to customers worldwide.
About NextEnergy Solar Fund
NextEnergy Solar Fund Limited (the “Company”) is a Guernsey incorporated investment company focusing on operational solar photovoltaic (“PV”) assets located in the UK. It is listed on the premium segment of the London Stock Exchange under the symbol NESF.L. The Company has raised over GBP240 million by way of a Placing and Offer for Subscription of Ordinary Shares. The Company seeks to provide investors with a sustainable and attractive dividend that increases in line with RPI over the long term and an element of capital growth through the re-investment of net cash generated in excess of the target dividend.