Shah Capital acquires shares worth US11 million in ReneSola
ReneSola Ltd has entered into a definitive share purchase agreement dated as of September 29, 2019 with Shah Capital Opportunity Fund LP, according to which Shah would purchase from ReneSola 100,000,000 newly issued ordinary shares at a price of US$0.11 per share, for a total consideration of US$11 million. The transaction closed today.
The newly issued shares are subject to a 180 day lockup period. Net proceeds from the transaction are intended to be used to expand ReneSola's global project development activities.
In connection with the transaction, ReneSola entered into an investor rights agreement with Shah. Under the Investor Rights Agreement, Shah has the right to appoint directors for two new seats on the Company's Board of Directors.
ReneSola is an international brand in solar project development, construction, operations and asset management. The company has teams in 10 countries, including major solar power markets such as China, the US, Canada, the UK, France, Spain, Turkey, Poland, Japan, and Thailand.
Country updates
-
-
October 09, 2019
EDF to build EUR1.5bn new reactor at Flamanville nuclear power plant
EDF is set to build a new reactor at the Flamanville nuclear power plant that will cost about EUR1.5 billion (US$1.6 billion) more than the initially proposed. The European pressurize...
Read more -
October 09, 2019
NextDecade, Enbridge to jointly develop Rio Bravo Pipeline for the Rio Grande LNG Project in Texas
NextDecade Corporation and Enbridge Inc. have announced a Memorandum of Understanding (MOU) to jointly pursue the development of the Rio Bravo Pipeline (Rio Bravo) and other natural gas pipelines in S...
Read more -
October 09, 2019
Tri Global Energy divests 360 MW Canyon Wind project in Texas
Tri Global Energy has reached an agreement to sell the 360 MW Canyon Wind project to Silverpeak, an alternative investment firm focused on real estate, energy and credit. Originated by Tri Global Ene...
Read more -
October 08, 2019
TransAlta, SemCAMS to construct and own a 40 MW Cogeneration plant in Canada
TransAlta Corporation (TransAlta) and SemCAMS Midstream ULC (SemCAMS), a subsidiary of SemGroup Corporation has announced that they have entered into definitive agreements to develop, constr...
Read more -
October 08, 2019
CNR completes acquisition of VOL-V Renewable Electricity renewable assets
Compagnie Nationale du Rhône (CNR) has completed the acquisition of the wind and solar assets of the VOL-V Renewable Electricity (VOL-V ER) in France from VLO-V. VOL-V ER provid...
Read more
