SOL - ReneSola acquires a solar farm in the UK and commences its IPP business in Europe
- ReneSola ( NYSE: SOL ) acquired a 50 MWp operational solar farm located in Branston, Lincoln, United Kingdom from P&T Global Renewable Energy.
- The farm has been operational since October 12, 2020 and is currently generating a highly attractive annualized yield of 1,011 MWh/MWp.
- The transaction was completed on September 30, 2022.
- "We are extremely excited to commence our asset-light, IPP business in Europe with the acquisition of Project Branston. This fully operational solar farm will be profitable on day one and provides stable cash flows and helps diversify risks from project sales. We anticipate the acquisition to further strengthen our market position in the Europe and will be accretive to our shareholders. This will be a new chapter of our company to enter into IPP business in Europe and contribute to energy alleviation of Europe energy crisis." said Mr. Yumin Liu, ReneSola Power Chief Executive Officer
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ReneSola acquires a solar farm in the UK and commences its IPP business in Europe