ReneSola Ltd., a Chinese solar power company that relocated its world headquarters from Shanghai to Stamford last November, has agreed to sell a portfolio of projects in Hungary to Obton, a leading international solar investment company based in Denmark. Financial terms were not disclosed.
The portfolio comprises 25 solar plants under development in three locations, with a combined capacity of 15MW. ReneSola said the deal builds upon the earlier sale of 13.9 MW of projects in Hungary, thus establishing its business momentum in the region.
“Hungary is an important market for solar power in the EU, and this second sale cements our position as a key player in the country,” said ReneSola CEO Yumin Liu, adding that the company believes Europe “will contribute to our accelerating and profitable growth in the quarters ahead.”
ReneSola was founded in 2005, and is listed on the New York Stock Exchange in 2008 as “SOL.”