STAMFORD, Conn., July 31,
2023 /PRNewswire/ -- Emeren Group Ltd ("Emeren" or
the "Company") (www.emeren.com) (NYSE: SOL), a leading global solar
project developer, owner, and operator, recently announced the
successful sale of an 11.5 MWp PV project to the Swiss-based energy
company MET Group. The project was sold at the Ready-to-Build
("RTB") stage and MET Group will complete the construction and
operate the power plant. This is the first project developed to RTB
stage by Emeren Germany GmbH, the Berlin-based subsidiary of Emeren Group, since
its entry into the market in early 2021. Capcora, a German
consulting company, acted as the exclusive sell-side M&A
advisor to Emeren.
The new PV power plant will be located in Kentzlin nestled in
the state of Mecklenburg-Western Pomerania and the commercial
operations are expected to start in the second half of 2024.
Yumin Liu, CEO of Emeren Group,
commented, "This project is an important milestone for our business
in Germany and represents our
commitment to developing renewable energy infrastructure in the
region. We look forward to continuing to work with our local
partners to build a more sustainable future."
Bernd Wollwerth-Carl, Director of
Emeren Germany GmbH, added, "We are delighted to have sold our
first RTB project in Germany.
Starting from scratch in 2021, we managed to grow quickly in a
competitive German PV market, establishing partnerships and
building a pipeline of medium and large-scale ground mounted PV
plants. With MET, we found a reliable and competent partner and we
look forward to further expanding our cooperation."
Christian Hürlimann, Renewables CEO of MET Group, commented,
"The Kentzlin project fits well into MET's strategic vision to
enter the highly competitive German renewables market, as well as
to further expand its renewables portfolio across Europe and particularly in Western Europe. Emeren Group's expertise in
renewable energy was instrumental in achieving this milestone, and
we anticipate future collaboration on additional projects."
Henning Prigge, Director at
Capcora, adds: "We are delighted to have played a pivotal role in
Emeren's successful project sale to MET Group, a prominent
integrated European energy company. Our long-standing partnership
with Emeren has allowed us to witness their growth and success, and
we couldn't be happier to have been a part of this milestone. This
collaboration reinforces our commitment to providing top-notch
support and solutions to our valued clients."
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.
About MET Group
MET Group is an integrated European energy company,
headquartered in Switzerland, with
activities and assets in natural gas and power markets. MET is
present in 14 countries through subsidiaries, 30 national gas
markets, and 22 international trading hubs. MET has extensive
experience in operating green (renewable) and flexible
(conventional) energy assets, thus providing the widest possible
support to energy transition. In 2022, MET Group's consolidated
sales revenue amounted to EUR 41.5
billion, the total traded volume of natural gas was 109 BCM
including futures, total traded electricity 67 TWh including
futures.
About Capcora
Capcora is an independent financial advisory boutique
specializing in M&A and project finance services to accelerate
the energy transition in Europe.
Founded in 2015, the Frankfurt-based company helps its clients
succeed in the renewable energy and infrastructure sectors by
advising them on sell-side and buy-side transactions, and by
raising mezzanine, unitranche or senior debt.
www.capcora.com
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SOURCE Emeren Group Ltd