Emeren Group Acquires 10.76 MWh Energy Storage Portfolio in China

Emeren will realize its return on investment mainly from the energy arbitrage with additional revenue coming from various Virtual Power Plant (VPP) scenarios. As of today, all six storage facilities are connected to VPP platform owned and operated by Huaneng Power International (0902.HK), one of the largest IPP operators in China.

Yumin Liu, CEO of Emeren Group, commented, "We aim to meet the escalating energy demand and contribute to the energy storage industry. This acquisition is conducive to strengthening Emeren's prominent position in the Chinese energy storage investment market, thereby enhancing the advantages of clean energy, further strengthening our global storage expansion strategies. It also positions us strategically in the growing VPP market in China, allowing us to tap into new opportunities and contribute to the development of smarter and more efficient energy solutions."