China-based PV firm ReneSola has secured a €13.4 million bridge financing agreement with Eiffel Energy Transition Fund for solar projects including 41.3MW in Hungary and 55MW in Poland.
Xianshou Li, chairman and CEO of ReneSola, said: "We are excited to partner with Eiffel Energy Transition Fund. This facility demonstrates the confidence that the capital markets put in our ability to successfully develop projects in international markets. We continue to expect both Hungary and Poland to be growth markets in the years ahead, and we look forward to further supporting solar deployment in these geographies."
Pierre-Antoine Machelon, fund manager of Eiffel Energy Transition, said: "We are happy to contribute to the acceleration of ReneSola's investments in Poland and Hungary. We look forward to supporting ReneSola in these promising geographies for the solar industry."
Josef Kastner, VP of ReneSola Projects Europe commented: "Our new cooperation with Eiffel will bring benefits to the growth of our European solar projects business, enabling us to further expand our project development activities. We are confident this partnership will strengthen our position in Europe."