ReneSola Power Awarded 38MW of Solar Projects in Poland's Electricity Auction
ReneSola Power (NYSE: SOL) announced the award of 38 solar utility projects in Poland, each with a capacity of 1 MW, under the country's Contract for Difference (CFD) regime. These projects come with a guaranteed tariff for 15 years. The average winning bid price was approximately USD$70/MWh, aligning with auction prices that ranged from USD$51 to USD$73/MWh. The projects are expected to be grid-connected within two years. The CEO emphasized this achievement as a testament to their market position and ongoing strategy amidst challenging macro conditions.
- Awarded 38 solar utility projects in Poland, expanding project portfolio.
- Each project has a guaranteed tariff for 15 years, ensuring stable revenue.
- Winning bid price of approximately USD$70/MWh is competitive within auction range.
- None.
STAMFORD, Conn., Dec. 21, 2020 /PRNewswire/ -- ReneSola Ltd ("ReneSola Power" or the "Company") (www.renesolapower.com) (NYSE: SOL), a leading fully integrated solar project developer, today announced that it was awarded 38 solar utility projects in Poland with capacity of 1 MW for each.
All of these 38 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 December 3, 2020.
Mr. Josef Kastner, CEO of ReneSola Power's European Region, commented, "We are excited to have been awarded the utility projects in Poland as they represent an addition to our diversified portfolio of solar projects across the globe. Importantly, this win once again validates our expertise to deliver reliable, cost-competitive distributed power to serve the growing energy demand in the region. We look forward to further supporting solar deployment in Poland and other markets."
Mr. Yumin Liu, Chief Executive Officer of ReneSola Power, added, "Despite ongoing challenging macro conditions, our European team continues to execute on our strategy. Specifically, we have made solid progress in expanding our project portfolio, and we continue to strengthen our leading position in the solar market in Poland. We are proud of our team, and believe we are well-positioned to drive more growth in the years ahead."
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.
View original content to download multimedia:http://www.prnewswire.com/news-releases/renesola-power-awarded-38mw-of-solar-projects-in-polands-electricity-auction-301196566.html
SOURCE ReneSola Ltd.
FAQ
What recent projects has ReneSola Power (SOL) been awarded in Poland?
What is the tariff structure for ReneSola Power's new projects in Poland?
What was the average winning bid price for the solar projects in Poland?
When are the new solar projects expected to be operational?
