STAMFORD, Conn., Oct. 26, 2020 /PRNewswire/ -- ReneSola Ltd
("ReneSola Power" or the "Company") (www.renesolapower.com) (NYSE:
SOL), a leading fully integrated solar project developer, and
Novergy, a subsidy-free solar platform specialised in the
origination, development, design, optimization, construction and
commissioning of solar projects in the United Kingdom, today announced that they
entered into a strategic partnership agreement to co-develop
utility-scale projects in the UK.
As part of the agreement, ReneSola Power and Novergy will create
a joint venture company. The JV expects to continue the
development of the existing pipeline of 100MW, and intends to
develop at least another 100 MW of utility-scale projects in the
next couple of years.
Mr. Josef Kastner, CEO of
ReneSola European Region, commented, "We are excited about this
partnership, as it combines strengths and competitive advantages of
both companies, and provides new opportunities to enable further
expansion into the UK market. We expect the JV to benefit
both companies by building a more robust utility project portfolio
while leveraging our expertise in project development."
Mr. Yumin Liu, Chief Executive
Officer of ReneSola Power, added, "Business momentum continues.
This is the second joint venture we have announced in a month, and
we look forward to working with our partners to expand our reach in
Europe. We believe this once again represents an important
step for us to grow our global pipeline in the next several
quarters and beyond."
Mr. Florent Leblanc, Chief
Executive Officer of Novergy, said, "We are delighted to be
partnering with Renesola Power who is a long standing player in the
solar sector and will enhance our financing and development
capabilities in the UK. This agreement with Renesola Power is a
testament to Novergy's track record and a significant step towards
our mission to develop 1GW of solar projects in the UK over the
next few years."
About ReneSola Power
ReneSola Power (NYSE: SOL) is a leading global solar project
developer and operator. The Company focuses on solar power project
development, construction management and project financing
services. With local professional teams in more than 10 countries
around the world, the business is spread across a number of regions
where the solar power project markets are growing rapidly, and can
sustain that growth due to improved clarity around government
policies. The Company's strategy is to pursue high-margin project
development opportunities in these profitable and growing markets;
specifically, in the U.S. and Europe, where the Company has a market-leading
position in several geographies, including Poland, Hungary, Minnesota and New
York.
About Novergy
Novergy has one of the strongest track records in the UK Solar
PV sector with direct involvement in over 1GW of large-scale solar
projects and has for ambitions to play a leading role in the
decabornisation of the UK electricity sector at no cost to the tax
payer. Our mission is the origination, development, design,
financing, construction and operation of new solar PV in the
UK.
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SOURCE ReneSola Ltd.