Solar power manufacturer Yingli Solar has signed an agreement to supply 120MW of YGE 72 Cell solar panels for a 300MW project that will be developed by Neoen in the south-western part of France.

A consortium of local companies, including Eiffage-Clemessy and Schneider Electric, is responsible for engineering and construction of the solar park.

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Located in Cestas, the project is likely to involve an investment of €360m and will be the largest solar power park in Europe.

Under the deal, Yingli Solar will deliver more than 393,000 multicrystalline panels between December 2014 and June 2015 for the park.

"Once operational, the plant is expected to supply power at rates as low as €105 / MWh, which is even lower than nuclear power rates in the UK."

The solar power park is spread over 250ha of land housing 25 solar plants. The facility is likely to be connected to the grid by October 2015, Yingli Solar confirmed.

Once operational, the plant is expected to supply power at rates as low as €105 / MWh, which is even lower than nuclear power rates in the UK.

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Eiffage-Clemessy Cestas project director Patrick de Labrusse said: "One important step for a project of such immense proportions is to gain the trust of investors and banks, which involves choosing the right partners.

"We are confident that our decision to work with Yingli, well-recognised for their reliable services, will help us to meet the challenging project programme, while ensuring the long-term performance of the plants."

Yingli Solar chairman and chief executive officer Liansheng Miao said: "We are honoured to be part of this milestone project in the European photovoltaic (PV) market, and to be delivering a promising model that is driven by profitability and cost-competitiveness rather than dependence on public incentives.

"Reaching grid parity is a reality now and we are pleased to partner with innovative European companies such as Neoen and Eiffage-Clemessy. They set a high standard and work hard every day to build a low-carbon economy across Europe."

Energy