An affiliate of Brookfield Asset Management is planning to buy 206.8MW of operational solar projects in China from ReneSola.
The companies have signed an exclusivity agreement to negotiate the deal over a 60-day period.
ReneSola chairman and chief executive Xianshou Li said: “This transaction will substantially reduce the company’s leverage ratio and significantly improve cash flow and liquidity.
“Upon completing this transaction, the proceeds from the sale of the operating assets will provide us with more resources and flexibility to deploy our capital.”
He added that the company is pursuing opportunities to develop, build and monetise solar projects in China and other geographies.
ReneSola said that the agreement with Brookfield does not mean that the talks will definitely lead to a sale.
Image: Pixabay
Brookfield eyes 207MW China sun
By EBS