Emeren Group Sells 57 MWp Solar Project Portfolio to Trina Solar ISBU in France
NORWALK, Conn., Sept. 30, 2024 /PRNewswire/ -- Emeren Group Ltd ("Emeren" or the "Company") (www.emeren.com) (NYSE:SOL), a leading global solar project developer, owner, and operator, today announced the sale of a 57 MWp solar project portfolio to Trina Solar (France) Systems ("Trina"), the French subsidiary of Trina Solar International System Business Unit (ISBU), the downstream project development arm of Trina Solar dedicated to the development, EPC, O&M, and asset management of solar and battery storage utility-scale projects worldwide,
The portfolio includes five projects — one early-stage and one late-stage — both sold in Q3 2024, along with three mid-stage projects to be monetized in milestones and sold to Trina. Additionally, there is potential to incorporate Battery Energy Storage Systems (BESS), which could further increase the portfolio's flexibility and overall value.
Yumin Liu, CEO of Emeren Group, commented, "We are proud to finalize this transaction with Trina Solar. Despite the complexities of the permitting process in France, our team successfully delivered a high-value portfolio that aligns with market demands. This sale highlights the strength of our development efforts and reinforces our commitment to advancing renewable energy in Europe. These projects reflect our shared dedication to sustainable energy and a cleaner future."
Leonardo Lotti, Head of EMEA for Trina, commented, "We are excited to collaborate with Emeren on these projects, which expedites and enhances our pipeline in France and in the whole EMEA region towards transitioning our business model from a primarily project development and sales approach to more of a long term asset owner and IPP. Emeren's ability to deliver this portfolio, despite the challenging French market, has been exceptional, and we look forward to building on this momentum."
About Emeren Group Ltd
Emeren Group Ltd (NYSE:SOL), a renewable energy leader, showcases a comprehensive portfolio of solar projects and Independent Power Producer (IPP) assets, complemented by a significant global Battery Energy Storage System (BESS) capacity. Specializing in the entire solar project lifecycle — from development through construction to financing — we excel by leveraging local talent in each market, ensuring our sustainable energy solutions are at the forefront of efficiency and impact. Our commitment to enhancing solar power and energy storage underlines our dedication to innovation, excellence, and environmental responsibility. For more information, go to www.emeren.com.
About Trina Solar (France) Systems
Trina Solar (France) Systems (TSFS) was established in Toulouse, France in 2019 and is the French subsidiary of Trina Solar International System Business Unit (ISBU), the downstream project development arm of Trina Solar (SHA: 688599) dedicated to the development, EPC, O&M, and asset management of solar and battery storage utility-scale projects with presence in 15 countries across Asia, Europe, North America, and Latin America regions.
For investor and media inquiries, please contact:
Emeren Group Ltd - Investor Relations
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Gary Dvorchak
+1 (323) 240-5796
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SOURCE Emeren Group Ltd