Power

30 solar energy projects awarded to U.S. ReneSola in Poland

solar energy ReneSola

30 solar energy projects were awarded to the U.S.-based company ReneSolar, during Poland’s electricity auction; 29 of the projects awarded will have a capacity of 1 megawatt each; while the remaining one will be a larger utility-scale project with 4MW of capacity.

Firstly, ReneSolar got the projects under Poland’s Contract for Difference (CFD) regime; and they were eligible for a 15-year guaranteed tariff. The company won with a bidding price of USD $58/MWh for the 4 MW project; and USD$ 61/MWh for the 1MW projects.

Secondly, all of the 30 solar energy developments will be connected to Poland’s grid around the next two years, according to the company’s statement.

Thirdly, the Energy Regulation Office in Poland held the country’s latest round of solar power auction on June 8th and 11th, 2021. However, the company revealed its projects this Wednesday, June 30.

Moreover, ReneSolar is a leading global solar project developer and operator. The Company focuses on solar power project development, construction management and project financing services.

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Solar energy booming in Poland’s market

In addition, it has presence in over 10 countries, hiring local talents to run professional teams; in fact, its business spreads across a number of regions where the solar power project markets are growing rapidly; and can also sustain that growth due to improved clarity around government policies.

Furthermore, ReneSolar aims 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.

On the other hand, about the awarded projects in Poland, Josef Kastner, CEO of ReneSola Power’s European Region, commented. “We are excited to once again secure the utility projects in Poland.  Importantly, our team continues to execute on our strategy, and this win is a testament to our expertise in delivering reliable; also, cost-competitive distributed power to serve the growing energy demand in the region.”

Finally, Yumin Liu, Chief Executive Officer of ReneSola Power, added. “Poland remains a key market for us, and we again demonstrate our leading position in Poland and other European markets. We are proud of our team’s execution; and we also look forward to further supporting solar deployment in Poland and other European markets.”

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