PV project developer ReneSola has closed on a long-term project financing to develop an 8MW KAT-licensed PV installation in Hungary. KAT is the Hungarian feed-in tariff scheme.
The PV project is comprised of 14 individual solar plants, each with a generation capacity of 0.5MW. All 14 installations are expected to be operational by October 2018.
Financing for the project is being provided by K&H Bank, one of Hungary's largest banking and financial services firms.
Xianshou Li, chairman and chief executive officer of ReneSola, said: “Hungary is an important market for solar power in the EU, and Renesola is an established and growing developer in the country. This financing demonstrates the quality of our projects, and strengthens our partnership with K&H Bank. We look forward to continued growth in Hungary as we finance and build more portfolios of projects in the months ahead.”