Yingli Energy (China) Co, a wholly-owned subsidiary of Yingli Green Energy Holding Co, the largest vertically integrated photovoltaic (PV) module manufacturer in the world, known as Yingli Solar, has entered an agreement to establish a joint venture with Shuozhou Coal Power, a wholly-owned subsidiary of Datong Coal Mine Group Co, which is China’s third largest state-owned coal mining enterprise. The JV will develop and construct solar power plants in Shuozhou city, Shanxi province.
The JV is a sign of Yingli China and Datong Coal Mine Group’s strong partnership. Previously, the two companies cooperated on a 20 MW utility-scale project located in Shanxi Province’s Tashan circular economic park, in which Yingli China served as both module supplier and EPC.
“We are very pleased to deepen our strategic partnership with Yingli Green Energy, a worldwide PV industry leader. Our joint venture echoes the national target for the building of a beautiful China and will help to meet our national targets for clean electricity generation. Additionally, the joint venture is in line with the strategy of Datong Coal Mine Group’s sustainable development,” commented Chengsheng Li, the Chairman of the JV and Shuozhou Coal Power.
“We are delighted to enhance the cooperation with Datong Coal Mine Group through our new Joint Venture,” said Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. “This partnership provides Yingli Solar with a strategic avenue to expand our domestic downstream business. By leveraging advantages of both companies, we will be able to accelerate the project development and bring significant benefits to all parties
Yingli Solar’s manufacturing covers the photovoltaic value chain from ingot casting and wafering through solar cell production and module assembly. Headquartered in Baoding, China, Yingli Green Energy has more than 20 regional subsidiaries and branch offices and has distributed more than 7,000 MW of PV modules to customers worldwide.
Datong Coal Mine Group is China’s third largest state-owned coal mining enterprises, only behind Shenhua Group Corp and China Coal. Datong Coal Mine Group’s mines are mainly located in Shanxi Province and Inner Mongolia Autonomous Region. Currently coal production is its main business but it is simultaneously developing a variety of industries such as power, coal chemical, metallurgy and coal machinery manufacturing and construction, etc.