ReneSola Power to Announce Sale of Remaining 13MW of Project Rights in Poland

ReneSola Ltd (“ReneSola Power” or the “Company”) (www.renesolapower.com) (NYSE: SOL), a leading fully integrated solar project developer, announced the sale of its remaining 13MW of project development rights in Poland to Warszawskie Przedsiębiorstwo Mostowe Mosty (“Mosty Group”), a Warsaw, Poland-based renewable energy project developer and EPC service provider.

In November 2018, ReneSola Power was awarded 26 solar utility projects in Poland with capacity of 1 MW for each. These remaining 13MW of project rights being sold are part of those 26 solar projects awarded to ReneSola Power. 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.

ReneSola Power CEO Yumin Liu commented,

“This sale of project rights to Mosty Group reflects ongoing strong execution by our European team under the leadership of Mr. Josef Kastner. This deal solidifies our leadership position in Poland, and opens other opportunities in Europe. With the closing of this transaction, we have shown our ability to develop and monetize solar projects across different geographies and at various points along the development cycle. We look forward to accelerating our growth and sustaining our profitability in the year ahead.”

Source: ReneSola Power 

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