ReneSola to sell 15MW Hungary-based solar project portfolio

Jan 9, 2020 04:06 PM ET
  • U.S.’s solar developer ReneSola is selling its 15-megawatt portfolio of Hungarian solar power projects under development to Danish investor Obton.
ReneSola to sell 15MW Hungary-based solar project portfolio

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.

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