STAMFORD, Conn., Dec. 21,
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 the
successful sale of a 53.6 MWp solar project portfolio in
Hungary, to Kronospan / Douglas
Renewables, the world's leading manufacturer of wood-based
panels.
This diverse portfolio encompasses six projects at various
stages of advanced development. Four of them are already
operational. One more power plants is scheduled to commence
operations end Q4 2023, with the final project expected to come on
stream by mid 2024. All the projects are located in the
municipalities of Törökszentmiklós, Békésszentandrás, Mezőtúr,
Szolnok, in the eastern part of Hungary. Combined, the power plants will be
able to provide energy to about 9,500 households.
The transaction was completed by the end of November, after
securing the final government approval.
Yumin Liu, CEO of Emeren Group,
commented, "These six new projects represent a substantial
contribution to the growing photovoltaics capacity in Hungary. We are glad that the operation has
been successfully closed. We are equally excited to have partnered
up with such a renowned player as Kronospan / Douglas Renewables.
Their vision of a sustainable energy production strategically
aligns with our mission to strengthen the solar energy
infrastructure."
Emeren's chosen Legal counsel is Pontes Budapest.
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 GWp, as well as a storage pipeline of over
10 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