ReneSola announced its partnership with Green City Energy, a Munich, Germany-based developer of renewable energy power plants in European markets.
ReneSola and Green City Energy will develop four solar parks in the south of France with a total installed capacity of 69 MW, generating approximately 105 million kWh of solar power per year.
ReneSola owns 95 percent equity of the joint venture company during the development period of approximately two years. Following the project development phase, Green City Energy will take control of the solar plants entirely.