ReneSola to sell 15MW Hungary-based solar project portfolio

• U.S.’s solar developer ReneSola is selling its 15-megawatt portfolio of Hungarian solar power projects under development to Danish investor Obton.

The company listed on the New York Stock Exchange has concluded an agreement for selling its PV projects to the renewable energy investor. The 15-megawatt portfolio includes 25 photovoltaic systems currently developed in 3 Hungarian locations. All the twenty-five projects are subject to Hungary’s CAT FIT scheme valid for twenty-five years.

In late autumn of the previous year, ReneSola sold Hungary-based projects with a total capacity of 13.9 megawatts. The projects were purchased by Polish branch of German SUNfarming Group. These two deals have established the American developer’s solid position in the country.

A year earlier, the NYSE-listed company won a tender for deployment of 26 Poland-based solar plants. Each project has a 1-megawatt power generation capacity. These green energy projects include the recently sold 13 megawatts of capacity. All the twenty-six solar power plants are under the Polish CFD rules. They are subject to zł354.8-358.8 per megawatt hour tariff guaranteed for fifteen years. This price is a little lower than the maximum auction tariff of zł364.9 per megawatt hour.