Solar project developer ReneSola announced its updated outlook for its solar portfolio in 2017 — noting that it currently has 335MW of projects that are currently under construction, with 550MW worth of total generation capacity planned for this year.
In the US, ReneSola plans to construct 108MW of projects in 2017, of which 70 MW are community solar installations. These projects will be developed in California, North Carolina and Minnesota. Within the UK, ReneSolar plans to develop 14MW of projects in 2017 — of which 10MW are under the 1.2 Renewable Obligation Certificate (ROC) program and expected to be connected to the grid by March 2017.
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In January 2017, ReneSola was awarded 13 PV utility solar projects in southern Poland, each with an installed capacity of 1MW. These installations are expected to be operational by December 2017.
In Canada, ReneSola plans to develop approximately 9MW of small-scale utility projects under the Feed-in Tariff (FiT) 3.0, while the company also expects to develop 13MW worth of projects in Turkey.
ReneSola also boasts 393MW of PV rooftop projects in “shovel-ready” stage in China. All of the projects have been filed with National Development and Reform Commission, while ReneSola has obtained legal rights to develop these projects. The projects are located in Zhejiang, Jiangsu, Anhui, Jiangxi, Shandong, Hubei, Henan, Hebei, Shanxi, Fujian and Guangdong Provinces.
Xianshou Li, chairman and chief executive officer of ReneSola, said: “We now anticipate fewer external module shipments in the first quarter of 2017 as we had redirected more module sales to our own downstream projects. That said, we expect project sales to pick up in the second quarter. Overall, we remain optimistic about our project development business. We continue to gain traction in the domestic Chinese distributed generation market and remain focused on executing our efforts in developed markets which are expected to have stable returns and healthy cash flow. We look forward to further growing this business in the quarters ahead.”
