Yingli will build 500MW solar PV project in Egypt
OFweek | Posted: 10 Feb 2015, 14:37
(OFweek) – Wang Gang, vice president of Yingli Green, signed a Memorandum of Understanding (MOU) with Elmac Abbey director of Egyptian Ministry of Electricity and Renewable Energy. The two parties noted that they would actively promote the development of the solar business through cooperation.
To further implement the contents of MOU, the delegation of Yingli Group went to have a more detailed negotiation with the chairman of Egyptian Ministry of Renewable Energy from January 26 to 30, 2015. On the basis of the original MOU, the two parties signed the letter of intent for the further development of Solar PV plant in Egypt. Both parties reached an agreement to make collaboration on solar PV development field. They set the target to realize 500MW of added PV capacity in the local in the following three years and the total PV installations will achieve 50GW by 2015. In the cooperation, Yingli Group will be the main contractor to be responsible for the construction of PV plants and loan financing, while the Egyptian Ministry of Renewable Energy will provide the lands and other convenient conditions for PV plant construction.
The cooperation between the two parties is actually a comprehensive strategic partnership established by China and Egypt. It strengthens the two nations’ collaboration on the new energy field and plays a significant role in implementing the comprehensive strategic cooperation between the two nations’ governments.
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