Yingli Green Energy Holding Co., the second-biggest solar manufacturer, is negotiating with a potential buyer for a 50-megawatt power project in China’s Hebei Province.
The solar farm is connected to the grid and the sale is expected to be complete in the second half of this year, Baoding, China-based Yingli said in a statement Monday. China General Nuclear Power Group provided a 10-year loan of 300 million yuan ($48 million) to help build the project, which will offset about 50,000 tons of carbon emissions annually.
Yingli is stepping up its efforts to build and sell solar farms in addition to supplying panels to developers.
“We plan to accelerate our downstream activities moving forward to both expand and diversify our revenue sources,” Chief Executive Officer Liansheng Miao said in the statement.
Yingli was the largest panel maker until it was surpassed last year by Trina Solar Ltd.