Emeren Group Sells a 53.6 MWp Solar Portfolio in Hungary

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Dec 21, 2023, 06:00 ET

STAMFORD, Conn., Dec. 21, 2023 /PRNewswire/ -- Emeren Group Ltd ("Emeren" or the "Company") (www.emeren.com) (NYSE: SOL), a leading global solar project developer, owner, and operator, today announced the successful sale of a 53.6 MWp solar project portfolio in Hungary, to Kronospan / Douglas Renewables, the world's leading manufacturer of wood-based panels.

This diverse portfolio encompasses six projects at various stages of advanced development. Four of them are already operational. One more power plants is scheduled to commence operations end Q4 2023, with the final project expected to come on stream by mid 2024. All the projects are located in the municipalities of Törökszentmiklós, Békésszentandrás, Mezőtúr, Szolnok, in the eastern part of Hungary. Combined, the power plants will be able to provide energy to about 9,500 households.

The transaction was completed by the end of November, after securing the final government approval.

Yumin Liu, CEO of Emeren Group, commented, "These six new projects represent a substantial contribution to the growing photovoltaics capacity in Hungary. We are glad that the operation has been successfully closed. We are equally excited to have partnered up with such a renowned player as Kronospan / Douglas Renewables. Their vision of a sustainable energy production strategically aligns with our mission to strengthen the solar energy infrastructure."

Emeren's chosen Legal counsel is Pontes Budapest.

About Emeren Group Ltd

Emeren Group Ltd (NYSE: SOL) is a leading global solar project developer, owner, and operator with a pipeline of projects and IPP assets totaling over 3 GWp, as well as a storage pipeline of over 10 GWh across Europe, North America, and Asia. The Company focuses on solar power project development, construction management and project financing services with local professional teams across multiple countries. For more information, go to www.emeren.com

SOURCE Emeren