China-based PV maker Yingli Solar entered into a new partnership with Shanghai Sailing Capital Management to create a renewable energy fund aimed at providing more funds for Yingli Solar’s projects in China. The capital in the fund will be managed by both Yingli Solar and Shanghai Sailing Capital Management on a rotating basis.
Yingli China, which oversees Yingli Solar, will provide about 51 percent of the capital in the $160 million fund. The capital contribution will be made in several installments.
The renewable energy fund being established by the partnership will initially focus on supporting ground-mounted solar power systems and technologies.