ReneSola has announced that it entered into a development service agreement with X-Elio North America for the development and construction of solar plants.
ReneSola, a leading solar project developer, has announced that it entered into a development service agreement with X-Elio North America, a subsidiary of X-Elio, a Spain-based company specialising in the development, construction, operation and maintenance of solar plants.
Under the agreement, the Company’s North American development team will originate and develop large utility-scale solar projects for X-Elio. The parties are conducting joint diligence on an initial portfolio of projects in California, Oregon and Utah with a total installed capacity of over 500 MW, many of which will include a battery storage system.
Doran Hole, ReneSola’s CEO, North America and Group Vice President of Strategy, said, “We are excited to deliver the capabilities of ReneSola’s North American development platform to a strong partner like X-Elio, as the U.S. continues to be an important market for both companies. With our talented team and solid track record of developing solar projects globally, we believe we are in a prime position to help X-Elio further expand its presence and support its solar deployment in North America.”
Under the terms of the agreement, ReneSola will assist X-Elio with obtaining site control, permitting, interconnection and off-take agreements. Additionally, ReneSola expects to provide further support, as X-Elio carries the projects through the financing and construction phases.
Javier Adiego, North America Country Manager for X-Elio, said: “We are very pleased to work with ReneSola on this project. The U.S. is a market with a lot of potential for our business, and we are fully convinced that the collaboration between X-Elio and ReneSola will enhance our position in North America.”
In May, the Shanghai-headquartered global manufacturer inked a pact to supply 5.4 MW of 310W mono PERC modules to Helexia in Belgium. These modules will be deployed by the French company on rooftop solar projects in Belgium.