ReneSola Bags 13MW of Solar Power Projects in Poland's First Electricity Auction

Advertisment

The Solar Projects are expected to be connected to the grid by December 2017 and will be sold to the local utility under a 15-year PPA

ReneSola has announced that it has bagged 13 solar utility projects in southern Poland, each with a capacity of 1 MW.

All of these 13 solar power projects are eligible for a guaranteed tariff of PLN 408.8/MWh, which is the highest in the auction. The projects are all expected to be connected to the grid by December 2017 and will be sold to the local utility under a 15-year PPA.

Advertisment

The Energy Regulation Office in Poland held the country's inaugural solar power auction on December 30, 2016. In this first auction for small-scale installations, 76 new solar projects received subsidies, equivalent to about 70MW of capacity.

Xianshou Li, Chairman and Chief Executive Officer of ReneSola, said: "We are excited to have been awarded the utility projects in Poland as they represent an addition to the Company's diversified portfolio of solar projects across the globe. Our team has the experience and expertise to deliver reliable, cost-competitive distributed power to serve Poland's growing energy demand, and we are proud to have the opportunity to accelerate the country's transition to a robust clean energy economy.  We look forward to leveraging the project win to further support solar deployment in Poland and other emerging markets."