ReneSola announced its agreement to sell two project companies – including ten rooftop DG projects located in Zhejiang Province – to Shanghai Hongzuo New Energy Company. The ten rooftop projects have an aggregate capacity of 12.3MW.
Shanghai Hongzuo is a subsidiary of Far East Horizon Company, a financial services institution in China specializing in the investment and operation of new energy industry. The project companies being sold by ReneSola are Ningbo Qixu New Energy Company, and Taizhou Dehong New Energy Technology Company.