to-the-point: ReneSola to sell 13.9-MW solar DG portfolio in Hungary

Solar project developer ReneSola (NYSE:SOL) has agreed to sell a 13.9-MW photovoltaic (PV) portfolio in Hungary to investment and management company Obton.

The portfolio being divested includes 24 distributed generation (DG) solar arrays with an average size of about 0.5 MW. Each system is qualified under the Hungarian 25-year feed-in tariff (FiT) scheme.

"The addition of the Hungary DG projects to our solar portfolio is part of our expansion strategy, and we are committed to becoming a major contributor to the renewable energy transition in Hungary for years to come," commented Anders Marcus, CEO and co-founder of the Obton Group.

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