PV giant Yingli Solar will link with investment group Sailing Capital to form a 1bn yuan ($160m) fund targeting solar plant investments in China.
– the world’s biggest supplier of PV modules – is accelerating its push into
the downstream end of the market, and the new Shanghai-based fund will mainly invest in its own
solar group will contribute about 51% of the fund’s initial capital, with
Sailing Capital – which claims to be China’s first large, cross-border
renminbi-based private equity fund – providing the balance.
Bryan Li, chief
strategy officer at Yingli, said: "We are delighted to
partner with Sailing Capital, a leading RMB private equity fund with robust
funding resources, to accelerate our footprint in the downstream solar energy
a long-term strategic repositioning, this co-operation is a solid step towards
our transition from a PV manufacturer to a renewable energy solutions provider.
"By securing a priority right in investing in Yingli Green Energy's downstream
solar projects, we should also be able to seek more sources of investment in
solar PV projects, while at the same time minimising potential risks."
fund is the second major announcement within a few days relating to Yingli’s
On Monday Yingli announced plans to
sell 300MW of grid-connected PV plants in China over the next three years to
United Photovoltaic Group (formerly known as Goldpoly).