ReneSola Sells 15 MW Solar Profile in Hungary to Obton

• New York-listed international solar task designer ReneSola Power has actually participated in a sale arrangement with Denmark headquartered Obton for its collective 15 MW of solar power profile in Hungary.

Obton is a financial investment and administration company focused on renewable resource jobs. This is the 2nd time that Obton has actually obtained solar properties from ReneSola.

The firm's solar project portfolio is comprised of 25 solar plants which are incomplete in 3 districts of Bicske, Boldog as well as Cegled, with an integrated capability of 15 MW.

These projects are of small-scale ground-mounted and are qualified under the Hungarian 25-year KAT feed-in toll scheme.

It is expected that these will certainly be attached to the grid in the 2nd quarter of 2020.

In line with the sale deal, the funding bank OTP Financial institution has provided financing for the job as well as approved Obton as the brand-new one hundred percent proprietor of these solar assets.

Discussing the purchase, Anders Marcus, Chief Executive Officer as well as Founder of Obton Group, stated that "this stands for the second portfolio in Hungary we obtained from Renesola Power. We expect teaming up with them on other opportunities in the near future."

" Our partnership with Obton remains stronger than ever before even with a challenging environment. With our strong network and also expert group in place, we expect leveraging our know-how and also working together with our companions on future jobs in Hungary as well as various other areas of Europe," commented Josef Kastner, CEO of ReneSola Power European Area.

On the sale of its profile despite coronavirus dilemma, Yumin Liu, Team CEO of ReneSola Power, added that "despite challenging market conditions related to the COVID-19 pandemic, we demonstrated solid execution on our strategy and also completed the sale of our profile to Obton, creating solid operating capital for us. We boast of our team, and also we would certainly also such as to thank our companions for their payments to our success."

Denmark-based Obton stands for retail capitalists and also handles a fast growing PV-portfolio of over 870 MW with a business worth of EUR 1.7 billion.