ReneSola, a fully integrated solar project developer, has acquired the 50-megawatt Project Branston solar farm, located in the United Kingdom, from P&T Global Renewable Energy. Financial terms were not disclosed.
Project Branston's solar farm has operated since Oct. 12, 2020 and is generating an annualized yield of 1,011 megawatt hours.
“We are extremely excited to commence our asset-light, IPP business in Europe with the acquisition of Project Branston,” said Yumin Liu, CEO of ReneSola Power. “We anticipate the acquisition to further strengthen our market position in Europe and will be accretive to our shareholders. This will be a new chapter of our company to enter into IPP business in Europe and contribute to energy alleviation of Europe energy crisis.”