ReneSola Power Agrees To Sell 12 MW Of Projects In Spain

ReneSola Ltd. SOL has agreed to sell a 12MWp portfolio of projects in Spain. The portfolio consists of two ground-mounted projects located in the municipality of Caravaca de la Cruz in the southern region of Murcia. Financial terms were not disclosed.
The transaction is a share purchase agreement with the aream Group, an international solar investment company in Düsseldorf, Germany.
Caravaca Project is owned by a special purpose vehicle (SPV), which ReneSola Power and its partner jointly own.
In this agreement, aream will purchase the company's ownership position in the SPV.
The sale will be consummated at the "ready-to-build" stage in early 2022.
Price Action: SOL shares are trading higher by 0.67% at $5.99 during the premarket session on Tuesday.