ReneSola Power Limited, a leading fully integrated solar project developer, announced the sale of 37 MW of solar projects in Poland to Obton, a renowned international solar investment business headquartered in Aarhus, Denmark, in December 2021. The 37 MW portfolio is in addition to the 38 MW sale to Obton announced in July 2021, bringing the overall capacity of the portfolio to 75 MW.
The portfolio includes 37 solar utility projects in Poland, each with a capacity of 1 MW for a total of 33 MW and a 4 MW project. ReneSola Power won the projects in the country’s solar power auction in September 2021. The projects are eligible for a 15-year guaranteed tariff under Poland’s contract for difference framework and are scheduled to be grid-connected within the next year. The projects are being sold at the “Ready to Build” stage. ReneSola Power will be responsible for EPC management, project financing, and final delivery of the projects to Obton at the COD stage after the sale is completed.
In January 2021, ReneSola Power Limited signed a Memorandum of Understanding with the asset management firm Eiffel Investment Group with 3 billion Euros under management. As part of this agreement, the two companies would have formed a joint venture that would provide financing for ReneSola Power’s current and future solar projects across Europe. The parties would have established a 51/49 joint venture company in which ReneSola Power will have a 51 per cent ownership stake with Eiffel having the remaining share for injecting new capital into the joint venture. This joint venture aimed to develop up to 1 GW of solar power projects across Europe in the next several years.
