Solar panel manufacturer Yingli Green Energy Holding Company Limited YGE announced that it has issued project bonds for a four-megawatt (MW) solar project following the completion of bond financing of $3.2 million (RMB 20 million yuan). The company’s project financing partners include Tianjin Xinhai Financial Leasing Co., Ltd. (Xinhai Leasing) and Principal Shield (Xiamen) Financial Technical Service Co., Ltd.
The project bonds will be available to the Chinese public at Shicaidai, a China-based Internet finance firm offering person-to-business (P2B) online financial products, including loans and wealth management tools.
The solar project is located in Hengshui City in China’s Hebei Province. It will generate 6.5 million kilowatt-hours of solar electricity per year, which is equivalent to not using 2,600 tons of coal and eliminating more than 6,700 tons of carbon emissions.
Recently, Yingli Green Energy Holding received a contract to supply 40 MW of solar panels to Sybac Solar, a major global solar integrator in Honduras. The high-efficiency solar panels will be utilized by Sybac Solar to develop two power plants, namely, the Pacific Solar project in Nacaome and the La Manzanilla y Las Lajas project in Choluteca (read more: Yingli Solar to Supply 40MW Panels for 2 Honduras Projects).
Solar panel and module manufacturers from China are engaging in a number of international solar projects through partnership or joint venture agreements. Per a media report, Trina Solar Limited TSL recently announced plans to invest $500 million for building a 2-gigawatt (GW) solar module plant in India in partnership with Welspun Energy Ltd. The plant’s output will be exported to the U.S. and European markets, which have imposed punitive trade duties on solar shipments from China (read more: Trina Solar to Invest $500 Million in India-Based Solar Plant).
Last month, JA Solar Holdings Co., Ltd. JASO teamed up with Essel Infraprojects Limited for setting up a solar cell and module manufacturing joint venture unit in India. The facility will have a production capacity of 500 MW (read more: JA Solar, Essel Tie Up for 500MW Indian Manufacturing Unit).
Yingli Solar currently has a Zacks Rank #4 (Sell). A better-ranked stock in the same industry is SolarEdge Technologies, Inc. SEDG, carrying a Zacks Rank #2 (Buy).
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