Yingli Green Energy's multicrystalline YGE Series modules -- developed by Grid Essence UK Ltd., a wholly-owned subsidiary of Grid Essence Holdings Ltd -- will be installed in ground-mounted solar projects located in the south of England and Wales. The seven solar power plants, scheduled for grid connection by the end of Q1 2014, will generate an estimated total of 54,500 MWh of green electricity per year when completed.
"We are honored to cooperate with Yingli Green Energy on these projects, which are critical for us to achieve our renewable energy target within the next five years," said Steve Bourbonnais, the co-founder and CEO of Grid Essence. "By leveraging our track record of success in solar project development, combined with Yingli Solar's great brand reputation, we are confident that this cooperation will bring us a sustainable growth."
The fully permitted projects are also eligible to receive Renewable Obligation Certificates (ROCs) issued by the United Kingdom Department for Energy and Climate Change (DECC). ROCs, which can be traded or sold, can be used by U.K. electricity suppliers to meet regulatory requirements to generate electricity from renewable resources.