STAMFORD, Conn., Dec. 21, 2020 /PRNewswire/ -- ReneSola Ltd ("ReneSola Power" or the "Company") (www.renesolapower.com) (NYSE: SOL), a leading fully integrated solar project developer, today announced that it was awarded 38 solar utility projects in Poland with capacity of 1 MW for each.
All of these 38 projects are under Poland's Contract for Difference (CFD) regime and eligible for a 15-year guaranteed tariff. Our winning bid price averaged approximately USD$70/MWh, compared to the auction prices that ranged between USD$51/MWh and USD$73/MWh. The projects are expected to be connected to the grid within the next two years.
The Energy Regulation Office in Poland held the country's latest round of solar power auction on December 3, 2020.
Mr. Josef Kastner, CEO of ReneSola Power's European Region, commented, "We are excited to have been awarded the utility projects in Poland as they represent an addition to our diversified portfolio of solar projects across the globe. Importantly, this win once again validates our expertise to deliver reliable, cost-competitive distributed power to serve the growing energy demand in the region. We look forward to further supporting solar deployment in Poland and other markets."
Mr. Yumin Liu, Chief Executive Officer of ReneSola Power, added, "Despite ongoing challenging macro conditions, our European team continues to execute on our strategy. Specifically, we have made solid progress in expanding our project portfolio, and we continue to strengthen our leading position in the solar market in Poland. We are proud of our team, and believe we are well-positioned to drive more growth in the years ahead."
About ReneSola Power
ReneSola Power (NYSE: SOL) is a leading global solar project developer and operator. The Company focuses on solar power project development, construction management and project financing services. With local professional teams in more than 10 countries around the world, the business is spread across a number of regions where the solar power project markets are growing rapidly, and can sustain that growth due to improved clarity around government policies. The Company's strategy is to pursue high-margin project development opportunities in these profitable and growing markets; specifically, in the U.S. and Europe, where the Company has a market-leading position in several geographies, including Poland, Hungary, Minnesota and New York.