ReneSola Power closes sale of 15 MW portfolio in Hungary to Obton
Date
April 13, 2020
Type
M&A Transactions
Subtype
Transaction completed
Countries
Hungary
Subsectors
Photovoltaic
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Renesola announced the closing of the sale of a 15 MW portfolio of solar projects located in Hungary to Obton, a leading international solar investment company headquartered in Aarhus, Denmark.
The portfolio comprises 25 solar plants under construction in three municipalities of Bicske, Boldog and Cegled, with a combined capacity of 15 MW. These 25 small-scale ground-mounted projects are qualified under the Hungarian 25-year KAT feed-in tariff scheme and are expected to be grid-connected in the second quarter of 2020.
In connection with the transaction, the financing bank OTP Bank Plc. provided project financing and approved Obton as the new 100% owner of the project assets.
