Yingli Solar Aims For 15 GW Solar Module Capacity By 2023

‘Financially Healthy Again’, Chinese Solar PV Manufacturer Yingli Solar Sees ‘Bright Future Ahead’; Aims To Upgrade & Expand Module Production Capacity To 15 GW By 2023

Yingli Solar Aims For 15 GW Solar Module Capacity By 2023

Yingli Solar aims to comeback with a new and improved technological roadmap. Pictured is the Ibri-2 solar power project in Oman for which Yingli Solar said it has supplied 117 MW N-type bifacial high efficiency solar modules. (Photo Credit: Yingli Energy (China) Company Limited)

  • Yingli Solar declares plans to expand solar module production capacity post restructuring
  • Plans include significantly upgrading manufacturing by incorporating latest technologies
  • By the end of 2021, it wants to expand cell production capacity to 5 GW, and module production to 10 GW

Chinese solar PV cell and module producer Yingli Energy (China) Company Limited or Yingli Solar is getting ready for a comeback after the company undertook major restructuring over the last few years. Having become ‘financially healthy again’, it now plans to invest in enhancing its production capabilities.

By the end of 2021, it plans to significantly upgrade manufacturing by incorporating latest technologies, the company announced without sharing further details. It will expand cell production capacity to 5 GW, and increase PV module production to 10 GW. Within the next 2 years, it wants to improve module production capacity to 15 GW, shared the company.

The announcement follows a previous declaration it shared in October 2020 when it said Yingli Solar plans to invest RMB 1.7 billion to expand its annual solar module production capacity by 5 GW in China’s Hebei province (see Yingli Solar Going In For 5 GW Solar Module Capacity).

Once a formidable name in the international solar PV industry as a top notch solar module player, Yingli Solar suffered financially over the years owing to its ballooning debt. However, now it claims the debt owed to financial creditors has all been converged to equity. A local government owned investment platform has contributed $312.8 million, it added and that its strategic investors are willing to invest $625.6 million.

It underwent a complete change with a new board of directors and management team announced and approved during its 1st general meeting of shareholders and directors held in April 2021. Yingli Solar shared that as a result of its restructuring, its debt asset ratio has come down to 59.26% (see Judicial Debt Restructuring For China’s Yingli).

About The Author

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews. Anu is our solar news whirlwind. At TaiyangNews she covers everything that is of importance in the world of solar power.

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