ReneSola to divest 12.3 MW of Chinese rooftop solar PV projects
Date
July 17, 2019
Type
M&A Transactions
Subtype
Transaction agreement announced
Countries
China
Subsectors
Photovoltaic
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ReneSola Ltd has announced that it had entered into an agreement to sell two project companies including ten rooftop distributed generation projects located in Zhejiang Province to Shanghai Hongzuo New Energy Company. The ten rooftop projects have an aggregate capacity of 12.3 MW.
Shanghai Hongzuo is a subsidiary of Far East Horizon Company Ltd., a financial services institution in China specializing in the investment and operation of new energy industry. The project companies being sold by ReneSola are Ningbo Qixu New Energy Company, Ltd. and Taizhou Dehong New Energy Technology Company, Ltd.
Financial terms of the deal were not disclosed.
