ReneSola Power Agrees To Sell 12 MW Of Projects In Spain

  • ReneSola Ltd. SOL has agreed to sell a 12MWp portfolio of projects in Spain. The portfolio consists of two ground-mounted projects located in the municipality of Caravaca de la Cruz in the southern region of Murcia. Financial terms were not disclosed.
  • The transaction is a share purchase agreement with the aream Group, an international solar investment company in Düsseldorf, Germany.
  • Caravaca Project is owned by a special purpose vehicle (SPV), which ReneSola Power and its partner jointly own.
  • In this agreement, aream will purchase the company's ownership position in the SPV.
  • The sale will be consummated at the "ready-to-build" stage in early 2022.
  • Price Action: SOL shares are trading higher by 0.67% at $5.99 during the premarket session on Tuesday.
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