STAMFORD, Conn., June 13,
2022 /PRNewswire/ -- ReneSola Ltd ("ReneSola Power"
or the "Company") (www.renesolapower.com) (NYSE: SOL), a leading
fully integrated solar project developer, today announced that it
was awarded 20-year Index Renewable Energy Credit (REC) contracts
for two solar projects.
20 MW solar and 2 MW battery storage project in Massena, New York: On June 2, 2022, the New
York State Energy Research and Development Authority
("NYSERDA") selected ReneSola Power's 22 MW "Roosevelt Solar" project in Massena, New York to be one of 22 projects as
part of the State's largest land-based renewable energy projects in
history. ReneSola Power was awarded a 20-year index REC contract as
part of the state's renewable program in an effort to reach
New York's goals to exceed 70%
renewables by 2030 and zero emissions by 2040 as required by
Climate Leadership and Community Protection Act[1].
20 MW solar project in Wilmington,
Illinois: On May 12, 2022,
the Illinois Commerce Commission ("ICC") awarded a 20-year index
REC contract to ReneSola Power's 20 MW utility-scale solar project
in Wilmington, Illinois as part of
the state commitment to double investment in renewable energy
towards its goal of 40% renewable energy by 2030 and 50% by
2040.
The new REC program in Illinois
and the existing program in New
York are laying the groundwork for what the future of
renewable energy could look like across the United States. They are great examples of
how states can meet their aggressive Renewable Portfolio Standard
targets, and at the same time create jobs and economic benefits to
local communities.
Mr. Yumin Liu, Chief Executive Officer of ReneSola Power,
commented, "We are very excited and honored that our two
utility-scale solar projects in New
York and Illinois were
awarded REC contracts. The solar industry continues to benefit from
the accelerating green energy transition to fight climate change.
Our projects are in line with our environmental, social and
governance practices, that is, not only will it contribute to
state-level renewable energy targets but it will also make an
impact to the local communities by creating jobs."
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 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.
[1]
Source:
https://www.nyserda.ny.gov/All-Programs/clean-energy-standard
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SOURCE ReneSola Ltd.