ReneSola to sell 24 solar plants in Hungary to Obton

Chinese solar project developer ReneSola is selling a portfolio of small-scale distributed generation (DG) projects located in Hungary to Obton, a leading international solar investment company specialised in renewable projects.

The portfolio comprises 24 solar plants, with an average size of approximately 0.5 MW per plant, bringing a combined capacity of 13.9 MW.

These 24 small-scale DG projects are qualified under the Hungarian 25-year feed-in tariff scheme.

“We are excited to collaborate with a strong partner like ReneSola,” said Anders Marcus, CEO and co-founder of Obton Group.

“ReneSola has demonstrated its ability to manage the transaction professionally and complete it in a timely manner. The addition of the Hungary DG projects to our solar portfolio is part of our expansion strategy, and we are committed to becoming a major contributor to the renewable energy transition in Hungary for years to come.”

“Hungary is an important market for solar power in the EU, and Renesola has emerged as a leading project developer here,” added Josef Kastner, CEO of ReneSola European Region. “We are proud of our ability to create value in Hungary, and believe we are well-positioned to drive more growth in the years ahead.”