Emeren Group has sold a 53MW solar project portfolio in Europe. The company sold the projects to Kronospan/Douglas Renewables in Hungary.
According to the company, the portfolio consists of six projects which are in different stages of advanced development.
Out of the total projects, four of them are already in operation. Likewise, one project is scheduled to commence operations by the end of 2023. The final project is likely to come on stream by mid-2024.
The projects are located in the municipalities of Torokszentmiklos, Bekesszentandras, Mezotur, Szolnok, in the eastern part of Hungary.
Emeren Group chief executive Yumin Liu was quoted in a statement, "These six new projects represent a substantial contribution to the growing photovoltaic capacity in Hungary. We are glad that the operation has been successfully closed.”
He further stated, “We are equally excited to have partnered up with such a renowned player as Kronospan/Douglas Renewables. Their vision of sustainable energy production strategically aligns with our mission to strengthen the solar energy infrastructure."
It has been informed that the transaction has already gone through the government approval.