PVTIME - ReneSola Ltd (NYSE: SOL) ("ReneSola Power" or the "Company"), a leading fully-integrated solar project developer today announced that it successfully closed a bridge financing with Eiffel Energy Transition Fund to finance the construction of ReneSola Power's 19 MW solar projects in Poland.
This new facility provides an injection of 10.64 million euros (US$12.1 million)
of new capital. It is the second bridge financing that Eiffel Energy
Transition Fund has provided to ReneSola Power to support its project
development and execution efforts in Poland and Hungary.
Mr. Yumin Liu, ReneSola Power Chief
Executive Officer, commented, "We are excited to once again partner with
Eiffel Energy Transition Fund. This new facility demonstrates their
confidence in our ability to successfully develop and build projects in
various target markets. Despite ongoing challenging macro conditions
related to COVID-19, we have begun construction of the 19 MW solar
projects in Poland. We are very pleased with our progress, and look
forward to further supporting solar deployment in the years ahead."
Mr. Pierre-Antoine Machelon, fund manager of Eiffel Energy
Transition, said, "We are very pleased to build on our initial
partnership with ReneSola Power to help expedite growth in the Polish
market, and contribute to the acceleration of the renewable energy
transition across the region. The strong engagement of ReneSola Power,
coupled with the quality of the processes being put in place locally,
were key in the selection of these projects."
Mr. Josef Kastner, CEO of ReneSola Power Europe, commented, "We have successfully developed solar projects in Poland and have sold over 81 MW of projects in the last four years. Poland
remains a key market for ReneSola Power, and we are committed to our
strategy to further expand our business and become a major player in Poland and other European markets."