ReneSola’s project disposals ramp with 22.3MW in China offloaded

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
The project developer has started disposing of around 200MW of existing PV power plant systems located in China with the sale of 11 rooftop DG projects located in Zhejiang Province to a China state-owned enterprise specializing in the solar energy industry as well as an agreement to sell three small-scale DG projects located in Shanghai to a different undisclosed third party. Image: ReneSola

PV project developer and EPC firm, ReneSola is continuing with plans to offload operating plants to recoup cash and invest in new projects.
 
The project developer has started disposing of around 200MW of existing PV power plant systems located in China with the sale of 11 rooftop DG projects located in Zhejiang Province to a China state-owned enterprise specializing in the solar energy industry as well as an agreement to sell three small-scale DG projects located in Shanghai to a different undisclosed third party. 

ReneSola expects expect 2019 revenue to be in the range of US$150 million to US$170 million with the vast majority generated from project sales in the second half of the year. 

Ms. Shelley Xu, Chief Executive Officer of ReneSola said, “With increased activity in project sales, our business momentum has accelerated, and we are confident in our revenue expectations for the third quarter and beyond. We continue to look for opportunities to monetize our China DG assets, as we transform into an asset-light project developer.”

Read Next

February 24, 2021
Microinverter supplier to use proceeds to repurchase notes due 2024 and 2025 as well as other corporate purposes
February 23, 2021
Strong installs expected in China, India and other markets as supply chain concerns ease and costs drop further
February 15, 2021
Longroad Energy to acquire ~900MWdc of solar, with battery storage additions also to be considered.
February 11, 2021
Oil and gas major Shell has said it will spend between US$2 billion and US$3 billion on renewables and energy solutions annually to help it attain net zero status by 2050.
February 9, 2021
Major ‘Solar Module Super League’ (SMSL) member JinkoSolar has extended its supply chain cooperation with major polysilicon and merchant solar cell manufacturer Tongwei Group, with Tongwei gaining extra gigawatts of mono wafers from JinkoSolar.
February 9, 2021
Major China-based polysilicon producer Xinte Energy is planning the world's single largest polysilicon production complex.

Subscribe to Newsletter

Upcoming Events

Solar Media Events, Upcoming Webinars
March 9, 2021
Solar Media Events
March 17, 2021
Solar Media Events
April 13, 2021
Solar Media Events
April 20, 2021