ReneSola has entered into a development service agreement with X-Elio North America, a subsidiary of X-Elio, that will see ReneSola’s North American development arm develop large utility-scale PV installations for X-Elio.
Both ReneSola and X-Elio are conducting joint diligence on an initial PV portfolio of installations in California, Oregon and Utah with a total installed capacity of over 500MW, of which many of the installations will also feature a battery storage system.
As part of this service agreement, ReneSola will help X-Elio with obtaining site control, permitting, interconnection and off-take agreements. In addition, ReneSola plans to provide further support as X-Elio supports the projects through the financing and construction phases.
Doran Hole, ReneSola's CEO, North America and group vice president of strategy, said: “We are excited to deliver the capabilities of ReneSola's North American development platform to a strong partner like X-Elio, as the US continues to be an important market for both companies.
“With our talented team and solid track record of developing solar projects globally, we believe we are in a prime position to help X-Elio further expand its presence and support its solar deployment in North America.”
Javier Adiego, North America country manager for X-Elio, added: “We are very pleased to work with ReneSola on this project. The U.S. is a market with a lot of potential for our business, and we are fully convinced that the collaboration between X-Elio and ReneSola will enhance our position in North America.”