| Yingli and Namene Form JV for Africa-based Solar Projects | |
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An Yingli Green Energy Holding Co. Ltd. YGE European affiliate, Yingli Green Energy Europe GmbH ("Yingli Europe"), has formed a joint venture (“JV”) with West Africa-based leading renewable energy solutions developer, Namene Energy International Limited.
The JV − Yingli Namene West Africa Limited – targets to build a total of 100 megawatts (“MW”) of utility-scale solar projects and up to 50 MW of commercial rooftop projects in Ghana as well as neighboring countries in the coming years. This 50-50 JV will give preference to Yingli Europe as its solar panel supplier.
Headquartered in Accra, Ghana, Yingli Namene West Africa’s first utility-scale projects are already on track, with construction expected to begin in 2017.
Yingli Namene marks Yingli's foray into the West African renewable energy market and supports the company’s international downstream business expansion.
We note that Namene Energy’s core business constitutes the development of renewable energy solutions, including project development and financing, and has its key market in Africa. The company also has a dynamic solar photovoltaic market in Togo and Ghana.
Hence, this JV is expected to yield significant synergies on the development and installation of large-scale solar projects in West Africa. This will ensure the supply of clean, reliable and affordable energy to meet the growing demand for power generation capacity in the region and drive economic growth, going ahead.
Zacks Rank
Yingli Green currently has a Zacks Rank #3 (Hold). JA Solar Holdings Co. Ltd. JASO, SolarEdge Technologies, Inc. SEDG and ReneSola Limited SOL are better-ranked stocks in the solar industry, both sporting a Zacks Rank #1 (Strong Buy).
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Yingli Green Energy Holding Co. Ltd.
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CODE : YGE |
ISIN : US98584B1035 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Yingli Green is based in China. Yingli Green is listed in Germany and in United States of America. Its market capitalisation is US$ 261.7 millions as of today (€ 224.0 millions). Its stock quote reached its highest recent level on May 15, 2009 at US$ 9.62, and its lowest recent point on November 30, 2012 at US$ 1.25. Yingli Green has 181 764 000 shares outstanding. |