Yingli secures largest China order with 170MW Hebei deal

Yingli Solar has announced a 170MW module supply agreement that is its biggest yet in China, in a welcome piece of good news for the troubled Chinese PV group.

Yingli will ship the panels to developer CFC Construction for use at utility-scale plants being built in Hebei province.

The modules, to be delivered in the third and fourth quarters of this year, will be deployed in the city of Zhangjiakou – co-host with Beijing of the 2022 Winter Olympics.

Yingli said its modules’ ability to withstand the harsh weather conditions of the area helped it clinch the deal.

Yingli has endured a torrid 2015 since it alarmed investors in May by flagging “substantial doubts” about its future as it struggles to service about $2.3bn of debts.

Its share price has plunged by 85% year-on-year, and earlier this month Yingli added to the gloom by cutting its full-year 2015 shipment forecasts.

One of loss-making Yingli’s problems has been the squeeze on its margins caused by lower selling prices in the Chinese market.