ReneSola announced that it closed on project financing to develop an approximately 8 MW KAT-licensed solar project in Hungary.
KAT is the Hungarian feed-in tariff scheme. The project is comprised of 14 individual KAT-licensed solar plants, each with a capacity of 0.5 MWAC. All 14 projects are expected to be grid-connected by October, 2018.
K&H Bank, a top banking and financial services firms in Hungary, is leading in providing the project finance. ReneSola has two more KAT-licensed project portfolios seeking project financing from K&H Bank.
ReneSola CEO Xianshou Li said: “The financing demonstrates the quality of our projects, and strengthens our partnership with K&H Bank. We look forward to growth in Hungary as we finance and build more portfolios of projects.”