STAMFORD, Conn., July 9, 2024
/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 42 MWp RTB solar project portfolio in Spain to CVE España, part of CVE, a French
IPP.
This diverse portfolio comprises eight Greenfield projects
developed by Emeren since 2021, with project sizes ranging from 5MW
to 6MW. One project has been already closed while the rest of
the projects will be closed during Q3, classified as Ready to Build
("RTB"). Six of the eight projects are located in
Castilla-y-Leon, another one in Comunidad
Valenciana and the last one in Andalucia. These eight
project will generate a total of 92,792.936 MWh/year of
energy, i.e. the equivalent consumption of 28,360 households in a
local region. The carbon emissions avoided will be of the
order of 20,093.73 tons of CO2 per year.
Yumin Liu, CEO of Emeren Group,
commented, "We are pleased to partner with CVE Group on the
portfolio of eight solar power plants. This is a great
achievement and an important milestone for our business in
Spain, and it reinforces our
commitment to expanding our solar and battery storage
portfolio. We began the development of this portfolio in 2021
and managed to grow quickly in a competitive and promising Spanish
PV market. The long-term outlook for solar PV in Spain and Europe remains positive, driven by strong
policy support, technological advancements, and a growing emphasis
on renewable energy. Given the favorable environment, we are
particularly excited about this partnership with CVE Group and the
synergies and opportunities it will bring. We look forward to a
successful and productive relationship."
Pierre de Froidefond, Managing partner of CVE, "We're thrilled
that Emeren partnered with CVE and we look forward to continuing to
develop our relationship. This transaction accelerates our
development as it will allow us to triplicate our installed
capacity by late 2025 (up to 65MWp) in Spain, an active market aligned with our
strategic goals: produce distributed solar energy and sell it
through PPAs. It will thus give us the ability to further address
the needs of corporate consumers in Spain."
About Emeren Group Ltd
Emeren Group Ltd (NYSE: SOL), a renewable energy leader,
showcases a comprehensive portfolio of solar projects and
Independent Power Producer (IPP) assets, complemented by a
significant global Battery Energy Storage System (BESS) capacity.
Specializing in the entire solar project lifecycle — from
development through construction to financing — we excel by
leveraging local talent in each market, ensuring our sustainable
energy solutions are at the forefront of efficiency and impact. Our
commitment to enhancing solar power and energy storage underlines
our dedication to innovation, excellence, and environmental
responsibility. For more information, go to www.emeren.com.
About CVE Group
A mission-driven company, CVE is a French independent producer
of renewable energies, multi-country and multi-energy (solar,
biogas and hydrogen). The group develops, finances and builds solar
power plants, biogas plants and hydrogen production facilities, and
operates them over the long term. CVE's aim is to promote new
business models based on direct energy sales by producing renewable
energy locally and meet the needs of industrial consumers, local
authorities, businesses and farmers. It is through its Respeer
green energy offer that CVE is deploying this approach to the
market. CVE is ISO 9001 and ISO 14001 certified. Headquartered in
Marseille, the Group is present in
France, Chile, the United
States, South Africa and
Spain. CVE currently employs 450
people and plans to reach a renewable installed capacity of 3,6 GWp
by 2028. The company is also certified "B Corp", a prestigious CSR
label, and thus joins a community of international companies
respecting very high social and environmental standards. For
further information: IPP | CVE (cvegroup.com)
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SOURCE Emeren
