China-based integrated PV manufacturer ReneSola has signed an agreement to sell a 24MW portfolio of ground-mount PV projects under development in North Carolina, US, to a subsidiary of Panda Green Energy, formerly known as United Photovoltaics.
The projects involve ReneSola's Virtus II 320W and 325W modules and will sell power generated to a local utility under a 15-year power purchase agreement (PPA). The projects are expected to be connected to the grid by December 2017.
Unlock unlimited access for 12 whole months of distinctive global analysis
Photovoltaics International is now included.
- Regular insight and analysis of the industry’s biggest developments
- In-depth interviews with the industry’s leading figures
- Unlimited digital access to the PV Tech Power journal catalogue
- Unlimited digital access to the Photovoltaics International journal catalogue
- Access to more than 1,000 technical papers
- Discounts on Solar Media’s portfolio of events, in-person and virtual
Or continue reading this article for free
Xianshou Li, chairman and chief executive of ReneSola, said: “This agreement further demonstrates our capability of developing and monetizing projects in the downstream segment of the solar industry. The US remains a key market for us; our project pipeline in the US consists of over 100MW of mid-to-late stage projects, and we continue to expect the region to be a major growth market in the years ahead.”
Last week, ReneSola agreed to sell two ground-mounted PV projects in the UK to Greencoat Solar II LP.