ReneSola Signs Agreement to Sell 15MW of Projects in Hungary

CHANGCHUN, China, January. 9, 2019 /PVTIME/ —  ReneSola Ltd (“ReneSola” or the “Company”) ( (NYSE: SOL), a leading fully integrated solar project developer, today announced that it had entered into an agreement to sell a portfolio of projects located in Hungary to Obton, a leading international solar investment company. This deal builds upon the earlier sale of 13.9 MW of projects in Hungary, thus firmly establishing the Company’s business momentum in the region.  

The portfolio comprises 25 solar plants under development in three locations, with a combined capacity of 15MW. These 25 small-scale projects are qualified under the Hungarian 25-year CAT feed-in tariff scheme.

Mr. Anders Marcus, CEO and Co-founder of the Obton Group, said, “This is our second collaboration with ReneSola, which is proving to be a strong partner. Hungary-based projects are 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.”

Mr. Josef Kastner, CEO of ReneSola European Region, commented, “Obton is an outstanding partner for us, and we are thrilled to complete our second sale to them. We look forward to future collaboration in Hungary and other regions of Europe.”

ReneSola CEO Yumin Liu added, “Over the past two years, ReneSola has demonstrated its skill in monetizing projects across Europe. Hungary is an important market for solar power in the EU, and this second sale cements our position as a key player in the country. We are proud of our ability to execute in Hungary, and believe Europe will contribute to our accelerating and profitable growth in the quarters ahead.”