SHANGHAI, Feb. 3, 2019
/PRNewswire/ -- ReneSola Ltd ("ReneSola" or the "Company")
(www.renesolapower.com) (NYSE: SOL), a leading fully integrated
solar project developer, today announced that the Company entered
into a bridge financing agreement with Eiffel Energy Transition
Fund for its photovoltaic projects in Hungary and Poland.
Under the terms of the agreement, Eiffel Energy Transition Fund
will finance ReneSola's 41.3 MW projects in Hungary and 55MW projects in Poland in the amount of 13,428,000 Euro.
Mr. Xianshou Li, Chairman and Chief Executive Officer of
ReneSola, commented, "We are excited to partner with Eiffel Energy
Transition Fund. This facility demonstrates the confidence that the
capital markets put in our ability to successfully develop projects
in international markets. We continue to expect both
Hungary and Poland to be growth markets in the years
ahead, and we look forward to further supporting solar deployment
in these geographies."
Mr Pierre-Antoine Machelon, fund manager of Eiffel Energy
Transition, said, "We are happy to contribute to the acceleration
of ReneSola's investments in Poland and Hungary. We look forward to supporting
ReneSola in these promising geographies for the solar
industry."
Mr. Josef Kastner, Vice President
of Renesola Projects Europe commented: "Our new cooperation with
Eiffel will bring benefits to the growth of our European solar
projects business, enabling us to further expand our project
development activities. We are confident this partnership will
strengthen our position in Europe."
About ReneSola
Founded in 2005, and listed on the New York Stock Exchange in
2008, ReneSola (NYSE: SOL) is an international leading brand of
solar project developer. Leveraging its global presence and solid
experience in the industry, ReneSola is well positioned to develop
green energy projects with attractive return around the world. For
more information, please visit www.renesolapower.com.
About Eiffel Energy Transition
Eiffel Energy Transition Fund S.L.P. is a specialized €350m
investment vehicle, strictly reserved for institutional investors,
with a 10 years life span. The fund meets the financing needs of
energy transition players, both in terms of renewable energy
production and energy efficiency solutions. It offers short-term
debt to developers while they await long term funding for their
projects. Eiffel Energy Transition is managed by Eiffel Investment
Group and is sponsored by the European Investment Bank, the French
environmental agency (ADEME) as well as mutual insurance companies
and first rank banks.
About Eiffel Investment Group
Eiffel Investment Group is an asset manager specialized in
businesses financing. Eiffel Investment Group invests in
European corporate credit through listed markets, private debt and
online lending platforms. The group manages around € 2 billion and
offers companies a wide range of financing solutions. The group
ensures a strong alignment of interest with its institutional
investors. Eiffel Investment Group is an independent company, owned
by its team alongside IMPALA, the holding of French entrepreneur
Jacques Veyrat.
For investor and media inquiries, please contact:
In China:
ReneSola Ltd
Mr. Willy Lin, CFA
+86 (21) 6280-9180 x155
ir@renesolapower.com
The Blueshirt Group Asia
Mr. Gary Dvorchak, CFA
+86 (138) 1079-1480
gary@blueshirtgroup.com
In the United
States:
The Blueshirt Group
Mr. Ralph Fong
+1 (415) 489-2195
ralph@blueshirtgroup.com
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SOURCE ReneSola Ltd.