ReneSola Power Awarded 33 MW of Solar Projects in Poland's Electricity Auction
ReneSola Ltd (NYSE: SOL) announced the award of 30 solar utility projects in Poland, consisting of 29 projects with 1 MW capacity each and one larger-scale project of 4 MW. The projects are part of Poland's Contract for Difference (CFD) regime, ensuring a 15-year guaranteed tariff. The average winning bid was approximately USD 58/MWh for the 4 MW project and USD 61/MWh for the 1 MW projects, with grid connection expected within two years. CEO Yumin Liu emphasized Poland's importance to the company's growth and project expansion in Europe.
- Awarded 30 solar utility projects totaling 33 MW in Poland.
- Projects secured under Poland's 15-year guaranteed tariff scheme.
- Competitive bid prices of USD 58/MWh for 4 MW and USD 61/MWh for 1 MW projects.
- Demonstrates market leadership and strategic expansion in Poland.
- None.
STAMFORD, Conn., June 30, 2021 /PRNewswire/ -- ReneSola Ltd ("ReneSola Power" or the "Company") (www.renesolapower.com) (NYSE: SOL), a leading fully integrated global solar project developer, today announced that it was awarded 29 solar utility projects with capacity of 1 MW for each and 1 larger-scale utility project with a capacity of 4 MW.
All of these 30 projects are under Poland's Contract for Difference (CFD) regime and eligible for a 15-year guaranteed tariff. Our winning bid price averaged approximately USD
The Energy Regulation Office in Poland held the country's latest round of solar power auction on June 8th and 11th, 2021.
Mr. Josef Kastner, CEO of ReneSola Power's European Region, commented, "We are excited to once again secure the utility projects in Poland. Importantly, our team continues to execute on our strategy, and this win is a testament to our expertise in delivering reliable, cost-competitive distributed power to serve the growing energy demand in the region."
Mr. Yumin Liu, Chief Executive Officer of ReneSola Power, added, "Poland remains a key market for us, and we again demonstrate our leading position in Poland and other European markets. Over the last several years, we have made solid progress in expanding our project portfolio in the country. We are proud of our team's execution, and we look forward to further supporting solar deployment in Poland and other European markets."
About ReneSola Power
ReneSola Power (NYSE: SOL) is a leading global solar project developer and operator. The Company focuses on solar power project development, construction management and project financing services. With local professional teams in more than 10 countries around the world, the business is spread across a number of regions where the solar power project markets are growing rapidly, and can sustain that growth due to improved clarity around government policies. The Company's strategy is to pursue high-margin project development opportunities in these profitable and growing markets; specifically, in the U.S. and Europe, where the Company has a market-leading position in several geographies, including Poland, Hungary, Minnesota and New York.
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SOURCE ReneSola Ltd.
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