To be developed and constructed by Yingli Green Energy, the power plants are primarily located in Hebei, Guangxi, Shanxi, Shandong, and other provinces.
Under the terms of the agreement, United PV will acquire at least 300MW of large-scale solar energy systems from Yingli China from 2014 to 2016.
The wholly-owned project companies of Yingli China will have 100% equity in the power plants, and will take up the responsibility with regard to their development, construction, and operation.
Following the grid-connection and inspection, United PV will acquire the project companies from Yingli China in a bid to meet certain criterions that have been addressed in the agreement.
United PV chief financial officer Hong LI said the companies will work to expand China’s installed solar capacity through large-scale PV projects, as part of the collaboration.
"Yingli Green Energy is one of the global PV industry leaders and the world’s largest PV module manufacturer – they are experienced and capable in developing high quality solar plants," LI added.
