Investment group

The joint venture between ReneSola Power and Eiffel Investment Group acquires its first portfolio of 200 MW projects

STAMFORD, Connecticut., September 17, 2021 / PRNewswire / – ReneSola Ltd (“ReneSola Power” or the “Company”) ( (NYSE: SOL), a leading developer of fully integrated solar projects, today announced that European Solar Energy Development JV, the joint venture between ReneSola Power and Eiffel Investment Group (“Eiffel”), has completed the acquisition of its first batch of solar projects with a combined capacity of 200 MW in several European countries, including Spain, France and Poland. Eiffel provided the capital to finance the development of these projects.

In May 2021, ReneSola Power and Eiffel have created European Solar Energy Development JV, a 51/49 joint venture with ReneSola Power holding 51% of the capital and Eiffel 49%. The joint venture intends to develop up to 700 MW of solar projects over the next three years through Europe.

Sir. Josef kastner, CEO of ReneSola Power European Region, commented: “We are delighted with today’s announcement as this portfolio is an important first step for the joint venture to develop up to 700 MW of solar projects over the years. coming years. ReneSola Power is committed to accelerating solar energy development in Europe, and with the joint venture created with Eiffel, we plan to develop quality projects in Europe, propelling growth in the region. ”

Sir. Yumin Liu, ReneSola Power Chief Executive Officer, said: “I am very satisfied with the progress made by the joint venture. In addition, the joint venture aligns with our growth strategy, allowing us to accelerate our project development activities across Europe. our pipeline of project opportunities ahead of us. “

Mr. Pierre-Antoine Machelon, Managing Director and CIO Energy Transition at Eiffel Investment Group, declared: “We are pleased to have finalized this first attractive and diversified portfolio of projects located in several European countries. We look forward to developing this JV Vehicle with our trusted partner, ReneSola Power. “

About ReneSola Power

ReneSola Power (NYSE: SOL) is a leading global developer and operator of solar projects. The Company focuses on solar energy project development, construction management and project finance services. With local professional teams in more than 10 countries around the world, the company is spread over a number of regions where the markets for solar energy projects are growing rapidly and can support this growth through improved clarity of government policies. The Company’s strategy consists of seeking high-margin project development opportunities in these profitable and growing markets; in particular, in the United States and Europe, where the Company occupies a market leadership position in several geographies, including Poland, Hungary, Minnesota and new York.

About the Eiffel Investment Group

Eiffel Investment Group is an asset management company specializing in corporate finance. The group now manages more than 3.5 billion euros and offers companies a wide range of private and listed debt and equity financing solutions. The group is a leading financier of the energy transition, particularly in Europe. The group, which has significant equity capital, has set up an institutional infrastructure and ensures a very strong alignment of interests with the institutional investor clients of the fund. Eiffel Investment Group is an independent company owned by its team alongside Impala.

SOURCE ReneSola Ltd.

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