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ReneSola sells 13MW of PV project rights in Poland to SUNfarming

Solar panels. Featured Image: foxbat/Shutterstock.com

November 25 (Renewables Now) - Solar project developer ReneSola (NYSE:SOL) on Monday said it had sold development rights for 13 MW of projects in Poland to SUNfarming Polska Asset 4 sp zoo.

The transaction involves 13 projects awarded to the China-based company in November 2018. Together with a further 13 1-MW solar projects ReneSola won at the time, they are eligible for a 15-year guaranteed tariff of PLN 354.8-358.8 per MWh (USD 90.95-91.97/EUR 82.6-83.5) under Poland's Contract for Difference scheme.

The Polish investor is part of German solar engineering group SUNfarming GmbH. The deal announcement comes after last week SUNfarming said it had secured EUR 17 million (USD 19m) in financing to fund its expansion in Poland.

(PLN 1.0 = USD 0.26/EUR 0.23)

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Before joining Renewables Now, Alex was a UK-focused business news reporter. Now she is covering global news from the renewable energy industry with a special interest in M&A.

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