ASI Acquires ReneSola-Developed 55MW Solar Farm in Poland

This ReneSola-developed portfolio consists of 34 state-of-the-art individual projects with a total installed capacity of 55MW.

Kehua Solar Grid India

Global asset manager Aberdeen Standard Investments (ASI) has acquired 100 percent stakeholding in ground-mounted solar farms developed by Renesola with 55 MW of capacity.

This ReneSola-developed portfolio consists of 34 state-of-the-art individual projects with a total installed capacity of 55MW.

Besides, these projects have been awarded a 15-year contract-for-difference (CFD) support mechanism, which ensures the stability of electricity pricing for the projects.

Commenting on the acquisition, Aberdeen Standard Investments, Head of Economic Infrastructure, Dominic Helmsley said “this acquisition marks our fourth investment in the Polish renewable infrastructure market, as we continue to execute on our strategy to acquire and manage premium infrastructure assets in Europe. We are thrilled to play an active role in the development of renewable energy in Poland, in particular, the solar PV sector, which is underpinned by a supportive regulatory framework. Renesola and Aberdeen Standard Investments have worked together to complete a transaction that benefits all parties, and we look forward to expanding our cooperation in the future.”

“This transaction once again validates our ability to develop and monetize solar projects across the different geographies we serve. Our European team, under the management of our CEO of the European Region, Josef Kastner, has established Poland as a key market for us, and positioned ReneSola as one of the largest project developers in the country. With the completion of this transaction, we have demonstrated our strong execution in project development and our ability to realize profits from the sale of our projects, enabling us to generate cash flow and further strengthen our balance sheet. We are very excited to partner with Aberdeen Standard Investments, and look forward to building a solid relationship with the team over the long-term,” said Shelley Xu, chief executive officer, ReneSola.

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Manu Tayal

Manu Tayal

Manu is an Associate Editor at Saur Energy International where she writes and edits clean & green energy news, featured articles and interview industry veterans with a special focus on solar, wind and financial segments.

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