Power

ReneSola partners with Italian developer to expand projects in Italy

solar energy ReneSola

ReneSola, a leading US-based integrated solar energy developer, announced today it has partnered with an Italian project developer to expand projects in Italy. The signing of the strategic partnership was with Terra Aurea Gela.

Firstly, this is not the first partnership that ReneSola establishes to expand its footprint in Europe. In fact, back in July, the company partnered with Emeren, a UK developer, to develop a renewable energy pipeline of projects across Italy. The target of such partnership is to reach 110-megawatts of shovel-ready projects by 2022.

Secondly, in June, the company also secured contracts during Poland’s electricity auction to develop 30 solar energy projects across the nation. Those projects would have a capacity of 1 to 4MW. The company won with a bidding price of USD $58/MWh for the 4 MW project; and USD$ 61/MWh for the 1MW projects.

Consequently, the partnership with Italian Terra Aurea Gela secured ReneSola with even further capacity to develop clean energy solutions across the old continent.

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ReneSola and Terra Aurea have several transactions ready for 2022

Although the companies did not reveal specific technical details about the projects, they say they will range in size. They also said the projects would be ground-mounted and that several transactions are ready for 2022.

Furthermore, the two companies will further collaborate to strengthen their presence in the Italian market. About the potential of the partnership, Josef Kastner, CEO of ReneSola Power European Region, said. “We are excited to work together with Terra Aurea Gela. ReneSola Power commits to accelerating solar development in Europe, and together with Terra Aurea Gela, we expect to bring a range of high-quality projects to the Italian market, driving further growth in the region.”

On the other hand, Yumin Liu, ReneSola Power Chief Executive Officer, added. “The co-development agreement with Terra Aurea Gela aligns with our growth strategy, enabling us to expand our project development activities in Italy. We look forward to pursuing other opportunities to co-develop projects across Europe.”

Finally, Imbergamo Salvatore represents Terra Aurea Gela. The company has developed many solar sites in the Italian market over the past 10 years. In fact, it works closely with MP Sicily Development S.r.l, which is co-owned by Imbergamo Salvatore and Manfred Messner. MP Sicily Developments operates in Sicily with a team of technical experts, designers, and installers. At the moment, the company develops solar assets on behalf of a number of international standing companies.

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