ReneSola to divest 26 MW of UK solar projects

Nov 10, 2016 13:14 CET by Ivan Shumkov

November 10 – Chinese solar company ReneSola Ltd (NYSE:SOL) said on Thursday it has inked deals to sell six utility-scale projects in the UK, totalling 26 MW, to an unnamed European investor.

The assets are located in Carlam Hill Farm (Yorkshire), North Wales and Monmouthshire. They are pre-accredited with a tariff rate of GBP 0.0616 (USD 0.077/EUR 0.070) per kWh and eligible for a guaranteed export tariff of GBP 0.0491/kWh.

CEO Xianshou Li commented that despite the Brexit vote resulting in more uncertainty for the UK solar sector, the company sees robust demand for such assets.

“We intend to grow our project development business significantly in the quarters ahead, in keeping with our plan to focus our efforts on the best opportunities for attractive and rapid return on investment,” the CEO said.

(GBP 1.0 = USD 1.243/EUR 1.139)

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