ReneSola, the U.S.-based solar company, announced this Friday it has partnered with Emeren; a renewable energy developer in Europe, to develop solar energy projects across Italy. Strategic partnership will also include a pipeline of several transactions for 2021.
Firstly, Emeren is a United Kingdom-based project developer specialized in the development of renewable energy power plants in Europe and other international markets; while ReneSola is a U.S. based company; focused on integral development and operation of renewable assets.
Secondly, the partnership will bring these two forces together to develop projects in a broad range of sizes across Italy. The target will be reaching 110 MW shovel-ready projects by 2022. The two companies expect the collaboration to further strengthen their presence in the Italian market.
Thirdly, about the potentials of the partnership, Josef Kastner, CEO of ReneSola Power European Region, said. “We are excited to work together with Emeren. ReneSola Power is committed to accelerating solar development in Europe; and together with Emeren, we also expect to bring a range of high-quality projects to the Italian market; which will enable further growth in the region.”
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ReneSola to pursuit a leading position in Europe’s market
Moreover, Mr. Yumin Liu, ReneSola Power CEO, said. “The co-development agreement with Emeren aligns with our growth strategy; enabling us to expand our project development activities in Italy. We also look forward to pursuing other opportunities to co-develop projects across Europe.”
On the other hand, Enrico Bocchi, Chief Operating Officer of Emeren, said. “We are very pleased to enter into a cooperation with such a renowned international player. Our experienced development team and also our local presence in the key European solar markets are highly valued by our clients.”
He also remarked. “This agreement with ReneSola Power represents another major step towards the expansion of Emeren’s positive impact in the solar market.”
Finally, the agreement with Emeren is part of ReneSola’s growth strategy; through high-margin project development opportunities in profitable markets. Indeed, the company has a leading position in several geographies, including Poland, Hungary, Minnesota and New York.
