ReneSola wins 26 MW of solar in Polish auction

Solar farm. Author: Alan Levine.

November 29 (Renewables Now) - ReneSola Ltd (NYSE:SOL) said Wednesday it has won 26 MW of solar power capacity in Poland’s recent renewables auction.

More specifically, the Chinese company was awarded 26 solar utility projects with an individual capacity of 1 MW. All of them are eligible for a 15-year guaranteed tariff of between PLN 354.8 (USD 94/EUR 82.7) and PLN 358.8 per MWh. This is close to the highest auction price of PLN 364.9/MWh, ReneSola noted.

“We look forward to further supporting solar deployment in Poland and other emerging markets,” commented Xianshou Li, chairman and CEO of ReneSola.

Earlier this month, ReneSola announced it had entered into a letter of intent (LoI) to sell multiple solar projects in Poland with a combined capacity of 55 MW to global renewables investor Chroma Impact Investment.

Other winners in the latest Polish auction include local power group PGE Polska Grupa Energetyczna SA (WSE:PGE), as well as E.on SE (ETR:EOAN), Innogy SE (ETR:IGY), PNE (ETR:PNE3) and Wpd AG of Germany.

(PLN 1.0 = USD 0.265/EUR 0.233)

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Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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