ReneSola has acquired a 50MWp operational solar farm located in Branston, UK from P&T Global Renewable Energy. Project Branston’s solar farm has been operational since October 12, 2020 and is currently generating 1011MWh per year. The transaction was completed on the 30th of September, 2022. ReneSola Power CEO Yumin Liu said: “We are extremely excited to commence our asset-light, IPP business in Europe with the acquisition of Project Branston. “This fully operational solar farm will be profitable on day one and provides stable cash flows and helps diversify risks from project sales. We anticipate the acquisition to further strengthen our market position in the Europe and will be accretive to our shareholders. “This will be a new chapter of our company to enter into IPP business in Europe and contribute to energy alleviation of Europe energy crisis.”
Credits: renews.biz/ [Image: Pixabay]