ReneSola Power sells 37MW Polish solar portfolio to Obton

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
An operational solar plant from ReneSola in Poland. Image: ReneSola Power.

Solar developer ReneSola Power has completed the sale of 37MW of PV projects in Poland to Danish solar investment and management company Obton.

Awarded to ReneSola in a renewables auction last year, the portfolio primarily consists of plants with a capacity of 1MW as well as one 4MW farm.

Sold at the ready-to-build stage, the projects are eligible for a 15-year guaranteed tariff under Poland’s contract for difference scheme.

ReneSola Power will carry out EPC management, financing and final delivery of the projects, which are expected to be connected to the grid within the next year.

Yumin Liu, CEO at ReneSola, said Poland is “an especially attractive market” for the company, adding: “We expect Poland to produce profitable growth in the quarters ahead.”

After awarding 2.2GW of solar PV capacity in a round of renewables auctions last June, Poland allocated an additional 870MW in another round last month.

Developers and analysts speaking to PV Tech Premium last year praised the design of the country’s auction mechanism, which supports the construction of smaller projects that pose less of a burden on the grid, while potentially allowing more companies to participate.

Poland added 3.2GW of solar last year, taking its total installed capacity up to 7.1GW, according to trade body SolarPower Europe.

ReneSola formed a joint venture last year with asset management firm Eiffel Investment Group to finance its European project pipeline, including plants in Poland, Spain, and France.

The latest deal with Obton follows ReneSola selling a 38MW solar portfolio in Poland last July and a 15MW portfolio in Hungary in 2020 to the Danish firm.

Read Next

PV Tech Premium
January 21, 2022
Greece is on track to accelerate solar deployment in the coming years, with the sector boosted by rising demand for renewable offtake agreements from corporations and clean energy policies from the EU, according to the general manager of Greek industrial group Mytilineos’s renewables business.
January 20, 2022
Swiss fund manager SUSI Partners has set up a new renewables platform that will build a portfolio of solar PV and wind assets in Poland.
January 19, 2022
Renewables developer R.Power has signed a power purchase agreement (PPA) with energy trader Axpo for nearly 300MWp of solar in Poland.
PV Tech Premium
January 18, 2022
Solar project developer Eco Energy World is aiming to “aggressively” grow its US PV pipeline after formally entering the market last week and intends to replicate the cheaper engineering, procurement and construction (EPC) costs it sees in Europe in the country. PV Tech Premium speaks to CEO Svante Kumlin to find out more.
January 13, 2022
Lightsource bp has closed on a US$533 million financing package for the development of 480MW of solar PV across the US as the company continues to expand its operations in the country.
January 11, 2022
Impax Asset Management is collaborating with clean energy financial technology provider Bullfinch Asset to invest in distributed solar generation in Germany.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
January 26, 2022
Free Webinar
Solar Media Events
February 23, 2022
London, UK
Solar Media Events
March 8, 2022
London, UK
Solar Media Events
March 23, 2022
Austin, Texas, USA
Solar Media Events
March 29, 2022
Lisbon, Portugal