ReneSola has signed agreements to sell six utility-scale projects in the UK to an undisclosed European investor, which will take over ownership of approximately 26MW of combined capacity.
The six projects are located in Carlam Hill Farm (Yorkshire), North Wales, and Monmouthshire. All of these projects are pre-accredited with a tariff rate of 6.16p/kWh and eligible for a guaranteed export tariff of 4.91p/kWh.
Xianshou Li, chief executive of ReneSola, 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.”
Renesola has sold a number of UK sites in recent months, including a 20MW portfolio acquired by investor and fund manager Equitix in July.