ReneSola Ltd., a fully integrated solar project developer, has entered into an agreement to sell a portfolio of projects in Hungary to Obton, an international solar investment company based in Aarhus, Denmark.
“Over the past few years we have demonstrated our expertise in developing and operating solar projects, closing financing transactions and monetizing projects to generate profits in the downstream solar industry across Europe,” said Yumin Liu, CEO of ReneSola Power. “Hungary remains an important market for solar energy in the EU. This transaction further strengthens ReneSola Power's market position in the country. We are proud of our team and believe that we are well positioned to grow more profitably in the quarters ahead. “
The portfolio includes 20 solar systems at five locations, including Sárbogárd, Kömlöd, Szajol, Lukacshaza and Törökszentmiklós, with a total output of 12.3 MW. These 20 solar projects, which were successfully connected to the grid in 2020, are now in operation and qualified under the Hungarian 25-year KAT feed-in tariff system.