ReneSola Power Closes Sale of UK’s 4.3 MW Solar Assets Portfolio to Atmosclear Investments

Global solar project developer and operator ReneSola Ltd (ReneSola Power) has closed the sale of its 4.3 MW solar operating projects portfolio in the United Kingdom to Atmosclear Investments Ltd.

Atmosclear Investments Ltd is an European renewable energy and cleantech private equity group with offices in the United Kingdom and Switzerland.

The ReneSola projects portfolio further comprised of 1,509 residential rooftop projects located in Scotland, with an aggregate capacity of 4.3 MW. 

Also, these projects are qualified under the feed-in tariff scheme and have been operating since 2015.

Commenting on the development, Yumin Liu, Chief Executive Officer of ReneSola Power, said, “we are excited to partner with Atmosclear Investments, and we look forward to building on this transaction and expanding our partnership with future opportunities.  Importantly, we continue to execute on our strategy and optimize our solar assets through strategic sales, which enables us to generate cash flow, realize profits and further strengthen our balance sheet. We are proud of our execution, and remain optimistic about our opportunities across different geographies in the quarters ahead.”

ReneSola Power has been indulged into solar power project development, construction management and project financing services. The company has worldwide presence, and it’s strategy is to pursue high-margin project development opportunities in these profitable and growing markets; specifically, in the US and Europe, where the company has a market-leading position in several geographies, including Poland, Hungary, Minnesota and New York.