ReneSola wins 38 MW of small solar in Poland

Solar developer ReneSola Ltd (NYSE:SOL) has won contracts for difference (CfDs) for projects totalling 38 MW in Poland’s auction for small-scale renewables.

ReneSola said today that these 1-MW solar projects are eligible for a 15-year guaranteed tariff. The company’s winning bid price averaged about USD 70 (EUR 57.33) per MWh compared to a range of USD 51/MWh-73/MWh.

Grid-connection for all of these projects is expected over the next two years.

"Despite ongoing challenging macro conditions, our European team continues to execute on our strategy. Specifically, we have made solid progress in expanding our project portfolio, and we continue to strengthen our leading position in the solar market in Poland," said CEO Yumin Liu.

The auction was held on December 3 and resulted in more than 700 MW of small-scale solar projects being contracted.

(USD 1.0 = EUR 0.819)

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