Emeren, a utility-scale solar power and battery project developer with headquarters in the UK, has been acquired by solar energy manufacturer Renesola Power for an undisclosed fee. More than 2 GW of solar projects and more than 500 MW of storage projects are among more than 2.5 GW of capacity that Emeren has planned for development. These projects are funded by institutional investors. The company has around 22 employees and was formerly a strategic partner of Renesola for joint development of ground-mounted solar and storage projects in Italy. The all-cash transaction also has an earn-out provision.
In January 2022, ReneSola Power Limited announced the sale of 37 MW of solar projects in Poland to Obton, a renowned international solar investment business headquartered in Aarhus, Denmark, in December 2021. The 37 MW portfolio is in addition to the 38 MW sale to Obton announced in July 2021, bringing the overall capacity of the portfolio to 75 MW.