ReneSola Power divests 15.4 MW Romanian solar projects

ReneSola Ltd has entered into an agreement to sell two ground-mounted solar parks in Romania with a combined capacity of 15.4 MW to Alternus Energy Group plc, pan-European Independent Power Producer (IPP).

The two ground-mounted solar projects include a 9.4 MW solar park located in the municipality of Costestii din Vale in Dambovita county and a 6 MW solar park located in the municipality of Dumbrava in Prahova county. The 9.4 MW plant is operated by Ecosfer Energy SRL, and the 6 MW plant is operated by Lucas Est SRL. Both Ecosfer Energy and Lucas Est SRL are special purpose vehicles (SPVs) that have been set up for the purpose of managing the construction and operation of the solar plants and the production of electricity.

Alternus Energy's acquisition of the two projects will be funded by the proceeds from the senior secured green bond and equity that it has recently issued.