SHANGHAI, Oct. 14, 2019 /PRNewswire/ -- ReneSola Ltd
("ReneSola" or the "Company") (www.renesolapower.com) (NYSE: SOL),
a leading fully integrated solar project developer, today announced
that it had entered into an agreement to sell a portfolio of
small-scale DG projects located in Hungary to Obton, a leading international
solar investment company.
The portfolio comprises 24 solar plants, with an average size of
approximately of 0.5MW per plant, bringing a combined capacity of
13.9MW. These 24 small-scale DG projects are qualified under the
Hungarian 25-year feed-in tariff scheme.
Mr. Anders Marcus, CEO and
Co-founder of the Obton Group, said, "We are excited to collaborate
with a strong partner like ReneSola. ReneSola has demonstrated its
ability to manage the transaction professionally and complete it in
a timely manner. The addition of the Hungary DG projects to our
solar portfolio is part of our expansion strategy, and we are
committed to becoming a major contributor to the renewable energy
transition in Hungary for years to
come."
Mr. Josef Kastner, CEO of
ReneSola European Region, commented, "Obton is an outstanding
partner for us as we further develop our business in Hungary. We are thrilled to complete this
project sale to them, and look forward to future collaboration,
both in Hungary and other
regions."
Kastner continued, "Over the past two years, Renesola has
demonstrated its skill in developing and operating solar projects,
completing long-term financing transactions and monetizing projects
to generate profits in the downstream segment of the solar industry
across Europe. Hungary is an important market for solar power
in the EU, and Renesola has emerged as a leading project developer
here. We are proud of our ability to create value in Hungary, and believe we are well-positioned to
drive more growth in the years ahead."
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 OBTON
Obton is an investment and management company specialized in
renewable projects. Obton represents retail investors and manages a
rapid growing PV-portfolio of more than 719 MWp with an enterprise
value of EUR 1,4 billion. The plants
are primarily located in France,
Italy, Germany, Belgium and the
Netherlands.
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SOURCE ReneSola Ltd.