STAMFORD, Conn., Jan. 6, 2022 /PRNewswire/ -- ReneSola Ltd.
("ReneSola Power" or "the Company") (www.renesolapower.com) (NYSE:
SOL), a leading fully integrated solar project developer, today
announced that in December, 2021, The Company closed on the sale of
37 MW of solar projects located in Poland to Obton, a
leading international solar investment company headquartered
in Aarhus, Denmark. The 37 MW
portfolio is in addition to the 38 MW sale to Obton announced in
July 2021, for a combined total of 75
MWs.
The portfolio comprises 37 solar utility projects across
Poland with capacity of 1 MW each for 33 MW and a 4 MW
project. The projects were awarded to ReneSola Power in
the country's solar power auction in September 2021. The
projects are qualified under Poland's Contract for
Difference (CFD) regime and eligible for a 15-year guaranteed
tariff and are expected to be grid-connected within the next
year.
The projects are being sold at the "Ready to Build" (RtB) stage.
Upon closing of the sale, ReneSola Power will be
responsible for EPC management, project financing, and final
delivery of the projects to Obton at the COD stage.
Mr. Josef Kastner, CEO of ReneSola Power European
Region, commented, "This transaction marks another step in our
partnership with Obton. Obton is a strong partner across all
of Europe, and we look
forward to future collaboration."
ReneSola Power CEO Yumin Liu added, "Our momentum
in Europe demonstrates our
expertise in developing and operating solar projects, closing
financing transactions, and profitably monetizing projects in the
region. This transaction further solidifies our leadership position
in Poland, which is an especially
attractive market for us. We expect Poland to produce profitable growth 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. For more information, please visit
www.renesolapower.com.
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SOURCE ReneSola Ltd.