ReneSola Sells 13 MW Solar Project Rights in Poland

ReneSola has sold 13 MW of project development rights to SUNfarming Polska, a Wroclaw-based investor with in-house project development and EPC provider

ReneSola, a leading fully integrated solar project developer, has announced the sale of 13 MW of project development rights to SUNfarming Polska, a Wroclaw-based investor with in-house project development and EPC provider and a company of the SUNfarming Group Germany.

In November 2018, ReneSola was awarded 26 solar utility projects in Poland with a capacity of 1 MW each. The 13 MW of project rights sold are part of those 26 solar projects awarded to ReneSola. All of the 26 projects are under Poland’s Contract for Difference (CFD) regime and eligible for a 15-year guaranteed tariff of PLN 354.8-358.8/MWh, close to the highest auction price of PLN 364.9/MWh.

Josef Kastner, CEO of ReneSola’s European Region, said, “our European team continues its strong execution momentum. This sale of project rights to SUNfarming demonstrates our ability to develop and monetise solar projects across different geographies and project stages and strengthens our leadership position in Poland. We are optimistic about our opportunities in Eastern Europe, where a supportive regulatory and financing environment makes it one of the most attractive markets globally.”

In October, we reported that global asset manager Aberdeen Standard Investments (ASI) has acquired 100 percent stakeholding in ground-mounted solar farms developed by Renesola with 55 MW of capacity. This ReneSola-developed portfolio consists of 34 state-of-the-art individual projects with a total installed capacity of 55 MW.

Besides, these projects have been awarded a 15-year contract-for-difference (CFD) support mechanism, which ensures the stability of electricity pricing for the projects.

In July, ReneSola announced that it had entered into an agreement to sell two project companies – including ten rooftop projects located in Zhejiang Province of China to Shanghai Hongzuo New Energy Company. The ten rooftop projects have an aggregate capacity of 12.3 MW.