ReneSola closes acquisition of solar and energy storage assets of Nova Development

ReneSola Ltd a leading fully integrated solar project developer has closed the acquisition of selected assets, including DG and solar-plus-storage projects, from Nova Development Management, for a gross purchase price of approximately US$3.8 million.  

The acquisition has immediately increased Renesola Power's development pipeline by approximately 200 MW. It provides the Company with access to utility projects and development activities in a number of states, including Pennsylvania, California, New York, Maine, Illinois, and Arizona. In addition, this transaction strengthens the Company's capabilities and scale and enhances its position for creating value in the quarters ahead.