Yingli Solar announced on June 30th that it completed a bond financing RMB 20 million yuan (USD $3.2 million) for a 4MW solar project. Yingli's financing partners for the project are Tianjin Xinhai Financial Leasing Co., Ltd. and Principal Shield (Xiamen) Financial Technical Service Co., Ltd. The project bonds are now available for the Chinese public to invest in online at www.shicaidai.com, the China-based Internet finance firm to offer P2B (person-to-business) online financial products, including loans and wealth management tools.
Located in Hengshui City in China's Hebei Province, Yingli's 4 MW solar project is now operational. The installation will generate approximately 6.5 million kilowatt-hours of solar electricity annually, equivalent to offsetting the consumption of 2,600 tons of coal and more than 6,700 tons of carbon emissions.
Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli, commented, "We are proud to announce our project and its innovative financing method, which empowers individuals to invest in clean power projects while also providing a safe, flexible, and stable investment income. It's our goal to begin replicating this approach as our project pipeline grows, and to eventually build a series of new online financing products that enable the public to invest in clean energy instead of fossil fuels."