ReneSola Announces Acquisition Of Emeren - Quick Facts

(RTTNews) - ReneSola Ltd (SOL) announced the acquisition of Emeren Limited, a United Kingdom-based utility-scale solar power and battery projects developer in Europe. Emeren has been a strategic partner of Renesola Power to co-develop ground-mounted solar and storage projects in Italy since 2021. Emeren has over 2.5 GW of pipeline under development including over 2 GW of solar projects and over 500 MW of storage projects.

Yumin Liu, ReneSola Power CEO, said, "The timing of this acquisition is excellent as it increases our project pipeline in Europe at a time when solar power purchase agreement prices have increased dramatically due to a supply shortage and favorable regulatory conditions. The acquisition is expected to generate healthy EBITDA immediately."