ReneSola, Eiffel JV adds first 200 MW of solar projects

Solar project developer and operator ReneSola Ltd (NYSE:SOL) today said the company's European joint venture with Eiffel Investment Group has completed the acquisition of its first portfolio, which consists of 200 MW of solar projects.

The projects are located in a number of European countries, among which Spain, France and Poland, the company added. The capital to fund their development was provided by Eiffel.

ReneSola and the French asset manager formed the joint venture, called European Solar Energy Development JV, in May this year. The business is 51% owned by ReneSola and 49% by Eiffel, and seeks to develop up to 700 MW of solar projects in Europe in the next three years.

ReneSola said in May the JV is aimed at speeding up the development and financing of its current and future solar projects across Europe.

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