Emeren Group Ltd (NYSE: SOL), a leading global solar project developer, owner, and operator, today announced the successful sale of a 42 MWp RTB solar project portfolio in Spain to CVE España, part of CVE, a French IPP.
This diverse portfolio comprises eight Greenfield projects developed by Emeren since 2021, with project sizes ranging from 5MW to 6MW. One project has been already closed while the rest of the projects will be closed during Q3, classified as Ready to Build (“RTB”). Six of the eight projects are located in Castilla-y-Leon, another one in Comunidad Valenciana and the last one in Andalucia. These eight project will generate a total of 92,792.936 MWh/year of energy, i.e. the equivalent consumption of 28,360 households in a local region. The carbon emissions avoided will be of the order of 20,093.73 tons of CO2 per year.
Yumin Liu, CEO of Emeren Group, commented, “We are pleased to partner with CVE Group on the portfolio of eight solar power plants. This is a great achievement and an important milestone for our business in Spain, and it reinforces our commitment to expanding our solar and battery storage portfolio. We began the development of this portfolio in 2021 and managed to grow quickly in a competitive and promising Spanish PV market. The long-term outlook for solar PV in Spain and Europe remains positive, driven by strong policy support, technological advancements, and a growing emphasis on renewable energy. Given the favorable environment, we are particularly excited about this partnership with CVE Group and the synergies and opportunities it will bring. We look forward to a successful and productive relationship.”
Pierre de Froidefond, Managing partner of CVE, “We’re thrilled that Emeren partnered with CVE and we look forward to continuing to develop our relationship. This transaction accelerates our development as it will allow us to triplicate our installed capacity by late 2025 (up to 65MWp) in Spain, an active market aligned with our strategic goals: produce distributed solar energy and sell it through PPAs. It will thus give us the ability to further address the needs of corporate consumers in Spain.”
