ReneSola To Sell Solar Power Projects in Hungary and Poland

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ReneSola will be selling solar power projects in Hungary to Obton, a solar investment company. It had earlier sold 13.9 MW of projects in Hungary.

The portfolio for sales of Renesola comprises 25 solar plants under development in three locations, qualified under the Hungarian 25-year CAT feed-in tariff scheme with a combined capacity of 15MW. 

Anders Marcus, CEO and co-founder of Obton Group was quoted by a news media report saying, “Hungary-based projects are part of our expansion strategy.”

Commenting on the company’s sales plans, ReneSola CEO Yumin Liu was quoted by news media report, “Hungary is an important market for solar power in the EU, and this second sale cements our position as a key player in the country.”

Furthermore, the company has also announced the sale of its remaining 13MW of project development rights in Poland to Mosty Group, a Poland-based renewable energy project developer and EPC service provider.

In November 2018, ReneSola Power was awarded 26 solar utility projects in Poland with capacity of 1 MW each. These remaining 13MW of project rights being sold are part of the 26 solar projects awarded to ReneSola Power.

These projects are under Poland’s Contract for Difference (CFD) regime and eligible for a 15-year guaranteed tariff of PLN 354.8-358.8/MWh, close to the highest auction price of PLN 364.9/MWh, according to a news media report.

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