Greencoat Capital LLP has agreed to buy two UK-based solar energy projects from ReneSola Ltd. No financial terms were disclosed.
SHANGHAI, Aug. 31, 2017 /PRNewswire/ — ReneSola Ltd (“ReneSola” or the “Company”) (www.renesola.com) (NYSE: SOL), a leading fully-integrated solar project developer and provider of energy-efficient products, today announced that it agreed to sell two ground-mount projects in United Kingdom to Greencoat Solar II LP, an investment vehicle managed by Greencoat Capital LLP, one of the UK’s largest dedicated renewable investment management firms.
These two projects are located in North Yorkshire and Shropshire and have a combined capacity of approximately 10 MW and are qualified under the 1.2 Renewable Obligations Certificate (ROC) program.
Xianshou Li, Chairman and Chief Executive Officer of ReneSola, commented: “The agreement demonstrates the strength of our ability to develop and monetize projects in the downstream segment of the solar industry. We are proud of our continued execution in the region and look forward to driving incremental project development globally.”
Founded in 2005, and listed on the New York Stock Exchange in 2008, ReneSola (NYSE: SOL) is an international leading brand of solar project developer and technology provider of energy efficient products. Leveraging its global presence, expansive distribution and sales network, ReneSola is well positioned to develop green energy projects with attractive return and provide its highest quality green energy products around the world. For more information, please visit www.renesola.com.
About Greencoat Capital
Greencoat Solar II LP is managed by an experienced investment team at Greencoat Capital LLP, a leading European renewable investment manager with over £2 billion under management across a number of funds in private equity, solar and wind infrastructure.