Yingli Green Energy Holding Co., the largest solar-panel maker, will supply 32 megawatts of panels to Pacifico Energy K.K. for a project in Okayama, Japan.
Yingli will supply the Tokyo-based developer with the panels in 2015, the Baoding, China-based company said today in a statement, without disclosing terms. General Electric Co.’s energy investing unit is financing the project.
Yingli is benefiting from Japan’s rapid solar power growth, expected to increase to as much as 11.8 gigawatts of solar installations this year, up from 7.1 gigawatts last year, according to Bloomberg New Energy Finance.
The company’s customer base in Japan has quadrupled since the fourth quarter, Chairman and Chief Executive Officer Miao Liansheng said in the statement.