ReneSola Ltd., a fully integrated solar project developer, has entered into an agreement to sell a portfolio of projects located in Hungary to Obton, an international solar investment company headquartered in Aarhus, Denmark.
“Over the past several years we have demonstrated our expertise in developing and operating solar projects, closing financing transactions and monetizing projects to generate profits in the downstream segment of the solar industry across Europe,” says Yumin Liu, CEO of ReneSola Power. “Hungary remains an important market for solar power in the EU. This transaction further strengthens ReneSola Power’s market position in the country. We are proud of our team and believe we are well-positioned to drive more profitable growth in the quarters ahead.”
The portfolio comprises 20 solar plants in five locations, including Sárbogárd, Kömlöd, Szajol, Lukacshaza and Törökszentmiklós, with a combined capacity of 12.3 MW. These 20 solar projects, which were successfully connected to the grid in 2020, are now in operation and are qualified under the Hungarian 25-year KAT feed-in tariff scheme.