ReneSola announced the sale of its solar project in North Carolina, United States to New York-based Greenbacker Renewable Energy Company.
The North Carolina project has a capacity of 6.75 MW and represents ReneSola’s second project sale to Greenbacker, following a sale of a similar project in April 2017.
Rockwood Group, through its partnership with The Guardian Life Insurance Company of America, facilitated cash and tax equity financing for the project. The company said the North Carolina project will sell all power generated to the local utility under a 15-year purchase agreement.
“This transaction exemplifies how ReneSola is able to work with experienced project buyers, advisors and tax equity investors to develop and finance solar projects,” said Doran Hole, ReneSola’s CEO of North America, Vice President of Strategy.