STAMFORD, CT, Nov. 24,
2020 /PRNewswire/ -- ReneSola Ltd (NYSE: SOL) ("ReneSola
Power" or the "Company"), a leading fully-integrated solar project
developer, today announced the closing of the sale of a portfolio
of operating projects located in the United Kingdom to Atmosclear Investments Ltd,
an European renewable energy and cleantech private equity
group.
The portfolio comprises 1,509 residential rooftop projects
located in Scotland, with a
combined capacity of 4.3 MW. These projects are qualified
under the feed-in tariff scheme and have been operating since
2015.
Mr. Yumin Liu, ReneSola Power
Chief Executive Officer, commented, "We are excited to partner with
Atmosclear Investments, and we look forward to building on this
transaction and expanding our partnership with future
opportunities. Importantly, we continue to execute on our
strategy and optimize our solar assets through strategic sales,
which enables us to generate cash flow, realize profits and further
strengthen our balance sheet. We are proud of our execution, and
remain optimistic about our opportunities across different
geographies in the quarters ahead."
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 Atmosclear Investments
AtmosClear Investments is a renewable energy and clean-tech
private equity group with offices in the United Kingdom and Switzerland.
Atmosclear began building residential solar rooftops in 2011. Since
then, the firm has acquired, operated, and maintained solar rooftop
assets throughout the country. In 2018, Atmosclear
Investments also acquired 9 solar farms in the South West of
England for approximately £22.5
million, and
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SOURCE ReneSola Ltd.