STAMFORD, Conn., Jan. 8, 2021 /PRNewswire/ -- ReneSola Ltd
("ReneSola Power" or the "Company") (www.renesolapower.com) (NYSE:
SOL), a leading fully integrated solar project developer, today
announced that it entered into an agreement to sell a portfolio of
projects located in Hungary to
Obton, a leading international solar investment company
headquartered in Aarhus,
Denmark.
The portfolio comprises 20 solar plants in five locations,
including Sárbogárd, Kömlöd, Szajol, Lukacshaza, and
Törökszentmiklós, with a combined capacity of 12.3 MW. These
20 solar projects, which were successfully connected to the grid in
2020, are now in operation and are qualified under the Hungarian
25-year KAT feed-in tariff scheme.
Mr. Josef Kastner, CEO of
ReneSola European Region, commented, "Despite ongoing challenging
macro conditions, our team continues to execute on our strategy and
optimize our solar assets through strategic sales. Obton remains a
valuable partner for us, and we are thrilled to once again
collaborate on this transaction. We look forward to working with
Obton in Hungary and other
geographies across Europe in the
future."
ReneSola Power CEO Yumin Liu
added, "Over the past several years, we have demonstrated our
expertise in developing and operating solar projects, closing
financing transactions and monetizing projects to generate profits
in the downstream segment of the solar industry across Europe. Hungary remains an important
market for solar power in the EU, and this transaction further
strengthens ReneSola Power's market position in the country.
We are proud of our team, and believe we are well-positioned to
drive more profitable growth in the quarters ahead."
Mr. Anders Marcus, CEO and
Co-founder of the Obton Group, said, "ReneSola Power is a trusted
partner of Obton's, and we are excited to increase our
participation in the Hungarian solar market with the support from
ReneSola Power. Importantly, we are encouraged that we were able to
enter into an agreement despite the challenging
circumstances. We are also proud of our team for being
effective, creative and goal-oriented, which we believe are the key
competences for success. We look forward to joining forces
with ReneSola Power to pursue other project opportunities in
Hungary and any other countries in
the future."
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 OBTON
Obton is an investment and development company that targets land
and rooftop owners, developers and financial institutions with the
goal of building a broad and risk-diverse portfolio of assets in
the field of renewable energy. Our expertise includes development,
funding and management of solar PV projects - primarily projects
starting from EUR 10m for stable
markets in Europe and North America.
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SOURCE ReneSola Ltd.