Yingli Solar has completed the sale of an 18.8MW solar power plant in Essex, UK, to NextEnergy Solar Fund, a specialist investment company listed on the London Stock Exchange and an owner of operating solar PV assets in the nation. The sale will help Yingli to deal with its financial needs for further development.
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.