PVTIME - ReneSola Ltd ("ReneSola Power" or the
(NYSE: SOL), a leading fully integrated solar project developer, today
announced that it entered into an agreement to sell a portfolio of operating
projects located in Canada to Grasshopper
Energy, a global solar developer and asset owner headquartered in Canada.
The portfolio consists of 15 solar plants under
development, with a combined capacity of 6.8 MW. These projects were qualified
under the Canadian feed-in tariff scheme, which was subsequently discontinued
in late 2016.
Mr. John Ewen, CEO of ReneSola
Power North America, commented, "Grasshopper has been an excellent partner
in financing this portfolio, and we are thrilled to close the transaction. We
look forward to collaborating with them on other opportunities."
Mr. Yumin Liu, CEO of ReneSola
Power, added, "Despite the challenging market conditions due to the
Coronavirus outbreak, we continue to execute on our strategy and demonstrate
our ability to monetize solar assets across North
America. This transaction builds upon our successful track record in the
region and generates solid operating cash flow, which will be utilized in the
execution of our current strategy. We are proud of our progress and are
optimistic about our opportunities across different geographies for profitable
growth in the quarters ahead."