ReneSola Power Awarded 38MW of Solar Projects in Poland

Source: www.gulfoilandgas.com 12/21/2020, Location: Europe

ReneSola Ltd ("ReneSola Power") (SOL), a leading fully integrated solar project developer, announced that it was awarded 38 solar utility projects in Poland with capacity of 1 MW for each.

All of these 38 projects are under Poland's Contract for Difference (CFD) regime and eligible for a 15-year guaranteed tariff. Our winning bid price averaged approximately USD$70/MWh, compared to the auction prices that ranged between USD$51/MWh and USD$73/MWh. The projects are expected to be connected to the grid within the next two years.

The Energy Regulation Office in Poland held the country's latest round of solar power auction on December 3, 2020.

Mr. Josef Kastner, CEO of ReneSola Power's European Region, commented, "We are excited to have been awarded the utility projects in Poland as they represent an addition to our diversified portfolio of solar projects across the globe. Importantly, this win once again validates our expertise to deliver reliable, cost-competitive distributed power to serve the growing energy demand in the region. We look forward to further supporting solar deployment in Poland and other markets."

Mr. Yumin Liu, Chief Executive Officer of ReneSola Power, added, "Despite ongoing challenging macro conditions, our European team continues to execute on our strategy. Specifically, we have made solid progress in expanding our project portfolio, and we continue to strengthen our leading position in the solar market in Poland. We are proud of our team, and believe we are well-positioned to drive more growth in the years ahead."


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