ReneSola Bags Environmental Approval For Spain Solar Plant

Solar project developer ReneSola Ltd SOL recently won environmental approval for its 12 MW solar plant located in the municipality of Caravaca in the region of Murcia in Southern Spain.
The construction is likely to begin in early 2022. The Caravaca project is the most advanced in ReneSola Power's 350 MW pipeline of projects at different development stages in Spain.
Additionally, ReneSola launched a sales and business development office in Madrid, Spain, to expand its sales network and customer service capabilities in the region.
"From a power generation standpoint, Spain intends to switch to 100% renewable energy sources by 2050, and ReneSola Power is positioned to be part of this energy transition, ReneSola Power European Region CEO Josef Kastner said.
Price Action: SOL shares traded higher by 1.50% at $6.65 in the premarket session on the last check Monday.