The newly formed consortium comprises Yingli Energy (Beijing) Co., Ltd., the Company's holding subsidiary; HYDROCHINA International Engineering Co., Ltd., a subsidiary of the Power Construction Corporation of China (POWERCHINA); Hebei Electric Power Design & Research Institute; and Thailand's Wattanasuk Engineering Co., Ltd.
Under the terms of the contract, the consortium will provide engineering, procurement and construction services to the Electricity Generating Authority of Thailand (EGAT), specifically for the 5 MW Thap Sakae PV power plant, located in Thap Sakae, Prachuap Khiri Khan Province, in southern Thailand. The THB 631.5 million (19.4 million USD ) solar project is now under construction with commercial operation expected to begin in May 2015.
The project was designed to use both crystalline silicon PV modules and thin film PV modules. Yingli Green Energy will supply 1 MW of polycrystalline silicon modules for the project in the third quarter of 2014 and the Consortium will procure the thin film modules from third party suppliers. The project is financed by EGAT.
POWERCHINA is a state-owned enterprise that provides EPC services in the development of hydropower, water works, thermal power, new energy, and transmission and distribution projects, in addition to the fields of infrastructure, equipment manufacturing, real estate and investment. EGAT is Thailand's leading state-owned power utility under the Ministry of Energy, responsible for electric power generation and transmission for the whole country as well as bulk electric energy sales.
"We are pleased to cooperate with influential companies such as POWERCHINA, a world-leading PC services provider, and Yingli Green Energy, a world-leading solar company," said Mr. Soonchai Kumnoonsate, the Governor of EGAT. "As demand for electricity rises in Thailand, we believe that solar PV will play an increasingly important role in our energy mix, thanks to our country's abundant solar resources."
Mr. Liansheng Miao, chairman and CEO of Yingli Green Energy, said the agreement marks a new "milestone in Yingli's long-term strategy to move downstream as a solar energy solutions provider. This entails offering EPC service offerings outside of China and into South East Asia, in close collaboration with UYling's partners.