Renesola Secures USD 12 Million Financing for 19 MW Solar Project

• ReneSola has effectively shut a bridge financing with Eiffel Energy Transition Fund to fund the building and construction of its 19 MW solar project in Poland

ReneSola Ltd, a leading fully-integrated solar project designer has revealed that it has actually effectively closed a bridge financing with Eiffel Energy Transition Fund to fund the building of ReneSola Power's 19 MW solar project in Poland.

This brand-new center gives a shot of 10.64 million euros (USD12.1 million) of brand-new capital. It is the second bridge financing that Eiffel Energy Transition Fund has actually given to ReneSola Power to support its project growth and also execution efforts in Poland and Hungary.

Yumin Liu, ReneSola Power Chief Executive Officer, said the firm is delighted to once again partner with Eiffel Energy Transition Fund. This new center demonstrates their self-confidence in its capacity to effectively establish and develop projects in different target audience.

" Despite recurring difficult macro problems associated with COVID-19, we have started construction of the 19 MW solar projects in Poland. We are extremely pleased with our development, and look forward to even more sustaining solar release in the years in advance."

Pierre-Antoine Machelon, fund supervisor of Eiffel Energy Transition claimed that the firm enjoys to build on its first collaboration with ReneSola Power to aid speed up development in the Polish market and also add to the velocity of the renewable energy change throughout the region.

" The solid involvement of ReneSola Power, paired with the quality of the procedures being established locally, were key in the choice of these projects."

Josef Kastner, CEO of ReneSola Power Europe, commented, "we have actually successfully created solar projects in Poland as well as have actually marketed over 81 MW of projects in the last 4 years. Poland continues to be a crucial market for ReneSola Power, as well as we are dedicated to our approach to more broaden our service and come to be a significant player in Poland as well as other European markets."

In June, the company had actually revealed that it will certainly join a consortium to develop a large ground-mounted solar plant in the south of France. The plant is anticipated to produce 46 GWh, and supply power to around 10,000 houses each year. The consortium is led by Tenergie, the second-largest independent power producer in France.