ReneSola Ltd. today announced that in December, 2021, The Company closed on the sale of 37 MW of solar projects located in Poland to Obton. 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."