ReneSola has sold four operational solar farms in England totalling 20MW to fund manager Equitix Fund IV.
The projects, which are powered by ReneSola’s Virtus II modules, are located in Derbyshire, Devon, Northamptonshire and Notthinghamshire.
All the facilities were connected to the grid in March and are qualified under the 1.3 Renewable Obligations Certificate programme.
No financial details regarding the deal were released, other than it was transacted in pounds sterling and, ahead of completion, ReneSola entered into hedging transactions to protect the project value in US dollars.
ReneSola chief executive officer Xianshou Li said: “The sale of the four UK projects extends our track record of rapidly developing and monetizing projects in attractive developed markets.
“We believe the successful monetization of our project pipeline along with our improving profitability and balance sheet will provide us with the capital resources to support our growth.”
Image: Morgue File
