June 24 (Renewables Now) - ReneSola Ltd (NYSE:SOL) said today it has been selected by X-Elio North America to originate and develop for it large solar photovoltaic (PV) projects in the US.
The companies have signed a development service agreement and are already conducting diligence together on an initial portfolio of projects with a combined capacity exceeding 500 MW in the states of California, Oregon and Utah. Many of these will include battery storage capacity.
The North American team of ReneSola will be helping the local unit of Spain-based solar developer and operator X-Elio secure site control, permitting, interconnection and power purchase agreements. The Chinese solar project developer also expects to provide support to its partner during the financing and construction phases.
“The US is a market with a lot of potential for our business, and we are fully convinced that the collaboration between X-Elio and ReneSola will enhance our position in North America,” said Javier Adiego, X-Elio’s North America Country Manager.