ReneSola will supply its Virtus II solar modules of combined capacity of 20 megawatts for installation at a group of utility-scale projects in Germany.
An unnamed EPC company in Europe is buying the modules from ReneSola and will take delivery of the modules beginning this month till the end of August, ReneSola has reported in a statement.
In July, ReneSola has completed a set of deals in the UK, and most recently, sealed a deal in Japan.
Earlier this month, ReneSola sold Field House, a 6.4-megawatt solar project, and Wedgehill, a 13.5-megawatt solar power project, both in the United Kingdom.
Field House had been connected to the grid in March this year and is qualified for the 1.4 ROC scheme of UK.
The project has been sold to Foresight Group, an infrastructure and private equity investment manager, and, according to a statement, the sale was part of the company’s strategy to focus on downstream services and projects.
Wedgehill has been sold to an undisclosed buyer in the UK. The project utilizes ReneSola’s Virtus II modules and was connected to the grid last December. It, too, has qualified for the 1.4 ROC scheme of the UK.
“We still have installed capacity of more than 76 megawatts in our portfolio that we plan to monetize while expanding and developing downstream presence,” Xianshou Li, the chief executive officer of ReneSola, had said in a statement.
In Japan, ReneSola has acquired development rights for 22.5 MW capacity of ground-mounted, utility-scale solar projects.
Most projects with the company are to commence production and be grid-connected beginning in late 2015 or early 2016. The projects will utilize photovoltaic modules of Renesola, particularly the company’s Virtus II modules.
ReneSola had shown a 1.6 percent increase in its module shipments from the fourth quarter of 2014. Total solar module shipments were 496.4 megawatts and total solar wafer and module shipments in Q1 2015 were 691.5 MW, the company stated in its quarterly report.
Ajith Kumar S
editor@greentechlead.com