Yingli Green Energy (NYSE:YGE) will soon be decamping to North Africa for a new set of solar projects. The company announced that a consortium consisting of it and fellow China-based concerns Sinohydro and Hydrochina, has won projects in Algeria totaling 233 megawatts. The customer is that country's SKTM, a subsidiary of incumbent electricity and natural gas distributor Sonelgaz. The terms of the deal were not made public.
The consortium won the largest part of a SKTM tender for four separate solar installations totaling 318 MW. Together, Yingli, Sinohydro, and Hydrochina will be responsible for the design and construction of their part of the project.
Construction is slated to begin next month, and to be completed within eight months.
Although headquartered in China, Yingli has been assiduously courting foreign customers. Last month, it announced it would supply more than 15 MW of photovoltaic modules to the U.K.'s Solarcentury Holdings, and said it reached a market share of roughly 20% in the Middle Eastern nation of Jordan.
Fool contributor Eric Volkman has no position in Yingli Green Energy. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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