STAMFORD, Conn., Oct. 10,
2023 /PRNewswire/ -- Emeren Group Ltd ("Emeren" or
the "Company") (www.emeren.com) (NYSE: SOL), a leading global solar
project developer, owner, and operator, today announced that it has
successfully completed the grid connection of its inaugural solar
storage project on September
26th in Ningbo,
Zhejiang Province, China. This project has a capacity of 0.6
MW/1.2 MWh, operates behind the meter and is backed by a private
long-term power purchase agreement (PPA) with a local off-taker. It
has been strategically designed to yield high returns through daily
price arbitration, emphasizing the Company's commitment to
sustainable and financially responsible energy solutions.
Yumin Liu, CEO of Emeren Group
commented, "We are absolutely thrilled to witness the successful
operation of our inaugural solar energy storage project in
China. This project marks a major
milestone and represents a defining chapter in our journey toward
becoming a leading global renewable energy company. In addition to
this accomplishment, we currently have a portfolio of projects in
the planning and execution phases in China, including several Commercial and
Industrial (C&I) sized storage projects that are currently
under construction. As part of our strategic vision, we plan to
further expand our storage portfolio under our light IPP strategy.
Furthermore, we remain steadfast in our commitment to executing our
storage business strategies, solidifying our dedication to
sustainable and innovative energy solutions."
About Emeren Group Ltd
Emeren Group Ltd (NYSE: SOL) is a leading global solar project
developer, owner, and operator with a pipeline of projects and IPP
assets totaling over 3 GW, as well as a storage pipeline of over 6
GWh across Europe, North America, and Asia. The Company focuses on solar power
project development, construction management and project financing
services with local professional teams across multiple countries.
For more information, go to www.emeren.com.
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SOURCE Emeren Group Ltd