Renesola forges European PV joint endeavor

• Initial portfolio with Eiffel Investment Group spans 340MW progressed phase projects in Poland, Spain and France

Solar programmer ReneSola Power has authorized a joint venture agreement with Eiffel Investment Group to accelerate the development as well as financing of as much as 700MW of photovoltaic projects across Europe.

With the signing of the joint venture contracts, ReneSola Power (51%) and Eiffel (49%) have actually developed European Solar Energy Development JV.

The initial portfolio contains 340MW progressed stage development projects located in Poland, Spain as well as France, which both partners will support as well as create to get to ready-to-build stage.

The joint endeavor firm means to fund the development of up to 700MW of solar projects in the next three years across Europe.

Renesolar Power European region CEO Josef Kastner said: "Eiffel Investment Group has been our financial companion for a number of years as well as tried and tested leader in service funding, and also we are enjoyed reinforce this relationship additionally and also perform the lasting critical joint endeavor agreement with them.

" This notes a vital turning point for us, and we expect the joint endeavor business to aid facilitate the development of our pipeline of project opportunities before us."

Eiffel Investment Group managing supervisor Pierre-Antoine Machelon claimed: "We are delighted to sign up with forces with our relied on companion ReneSola Power to accelerate the development of its attractive as well as diversified portfolio of PV projects in the European Union.

" We are positive that the flexibility of this innovative JV vehicle and the high quality of the ReneSola Power development teams will lead to a solid value development as well as help satisfy the ambitious decarbonation goals of our continent."