Yingli China, the wholly owned subsidiary of Yingli Green Energy Holding Co. Ltd., has entered into a framework agreement with United Photovoltaic Group Ltd. (United PV) for United PV's acquisition of China-based solar PV plants to be developed and constructed by Yingli Green Energy.
According to the agreement, United PV will acquire at least 300 MW of large-scale solar energy systems from Yingli China this year to 2016. The plants are located mainly in Hebei, Guangxi, Shanxi, Shandong and other provinces.
Yingli China's wholly owned project companies will have 100% equity in the power plants and are responsible for their development, construction and operation.
United PV will acquire the project companies from Yingli China after the grid connection and inspection to meet certain criteria addressed in the agreement are complete.