ReneSola has signed agreements to sell its six utility-scale solar plants in the UK to a European investor.
The projects have a combined capacity of approximately 26MW.
The facilities consist of ReneSola’s Virtus II modules, and are located in Carlam Hill Farm in Yorkshire, North Wales and Monmouthshire.
The six projects are pre-accredited with a tariff rate of 6.16p/kWh and eligible for a guaranteed export tariff of 4.91p/kWh.
ReneSola chief executive officer Xianshou Li said: “Although the Brexit vote has interjected more uncertainty into the UK political situation, we are finding that demand remains robust for productive solar power assets.
“We intend to grow our project development business significantly in the quarters ahead, in keeping with our plan to focus our efforts on the best opportunities for attractive and rapid return on investment.
“We are building our development pipeline even as we execute monetisations such as this agreement, and expect more successful transactions in 2017 and beyond.”
Image: Morgue File
