STAMFORD, Conn., Dec. 28,
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 purchase of an 86 MWp utility-scale solar project
portfolio in Spain from Negratin
Global Services, an industrial and service group that operates in
energy, industry and installations within the renewable energy
space.
This various state-of-the art portfolio comprises 13
utility-scale solar projects ranging from 6MW DC to 14 MW DC. They
are classified as Ready-to-Build ("RTB") projects and are expected
to produce 166,471,371 kWh/year of energy. The portfolio of
projects is expected to begin construction late 2024, with the
final projects to be built and connected to the grid by early
2025. All 13 projects are located in the center of
Spain and will have the capacity
to provide enough energy to 51,380 households in the local region,
along with the saving of 19,544 vehicle emission every
year.
Emeren plans to develop and build Battery Energy Storage Systems
("BESS") on the already permitted site for solar projects, as part
of the transition to a low-carbon future, resulting in the saving
of 35,903.9 tons of CO2 per year. Emeren Spain has
an advanced-stage portfolio of over 300MW in solar and 100 MWh of
storage, with a 2024/2025 pipeline of over 4 GWs.
Yumin Liu, CEO of Emeren Group,
commented, "We are excited to acquire the portfolio of projects
from Negratin Global Services as they fit well with Emeren's
strategic vision for advancing renewable energy in Spain and globally. Partnering with
Negratin reinforces our dedication to expanding our renewable
energy portfolio and showcasing our successful track record in
acquiring and selling utility-scale projects."
Enrique Diaz Hinojosa, CEO of
Negratin Global Services, added, "This aligns with Negratin's
commitment to renewable energy and contributes to sustainable
practices. We trust Emeren's expertise for successful project
development, supporting our shared vision for a greener
future."
Negratin Global Services selected ATZ Investments, a renewable
and infrastructure financial advisory boutique specializing in
mergers and acquisitions, to support on the project
transaction.
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 totalling over 3 GW, 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
About Negratin Global Services
Negratin Global Services, S.L., a Spanish business group with
more than 25 years of history, carries out its activity through
various business areas, such as promotion, construction of energy
infrastructure and facilities, operation and maintenance, being a
reference worldwide as EPC contractor in the photovoltaic sector.
With headquarters in Granada and
delegations in Madrid, Córdoba,
and Malaga, in Spain, and
international delegations in Mexico, Panama, Honduras, Colombia, Chile, and Japan.
Safe Harbor Statement
This press release contains statements that constitute
''forward-looking" statements within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and as defined in the
U.S. Private Securities Litigation Reform Act of 1995. Whenever you
read a statement that is not simply a statement of historical fact
(such as when the Company describes what it "believes," "expects"
or "anticipates" will occur, what "will" or "could" happen, and
other similar statements), you must remember that the Company's
expectations may not be correct, even though it believes that they
are reasonable. The Company does not guarantee that the
forward-looking statements will happen as described or that they
will happen at all. Further information regarding risks and
uncertainties that could cause actual results to differ materially
from those in the forward-looking statements is included in the
Company's filings with the U.S. Securities and Exchange Commission,
including the Company's annual report on Form 20-F. The Company
undertakes no obligation, beyond that required by law, to update
any forward-looking statement to reflect events or circumstances
after the date on which the statement is made, even though the
Company's situation may change in the future.
For investor and media inquiries, please contact:
Emeren Group Ltd
Suzanne Wilson
+1 (510) 631 6550
Suzanne.wilson@emeren.com
Emeren Group Ltd - Investor Relations
ir@emeren.com
The Blueshirt Group
Gary Dvorchak
+1 (323) 240-5796
gary@blueshirtgroup.com
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SOURCE Emeren