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STAMFORD, Conn., Dec. 28, 2023 /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 successful purchase of an 86 MWp utility-scale solar project portfolio in Spain from Negratin Global Services, an industrial and service group that operates in energy, industry and installations within the renewable energy space.
This diverse portfolio includes thirteen utility-scale solar assignments ranging from 6 MW DC to 14 MW DC. They are classified as Ready to Build (“RTB”) Projects and are expected to produce 166,471,371 kWh/year of energy. Construction of the assignment portfolio is expected to begin in late 2024, with the final assignments to be built and connected to the grid until early 2025. The thirteen assignments are located in central Spain and will have the capacity to supply enough power to 51,380 homes. the local area, as well as reducing emissions through 19,544 cars each year.
Emeren plans to expand and build battery energy storage (“BESS”) systems at the already consistent solar projects, as part of the transition to a low-carbon future, which will result in savings of 35,903. 9 tons of CO2 per year. Emeren Spain has a late-stage portfolio of more than three hundred MW of solar and one hundred MWh of storage, with a 2024/2025 portfolio of more than 4 GW.
Yumin Liu, CEO of Emeren Group, commented: “We are very pleased to acquire Negratin Global Services’ portfolio of projects, as they align well with Emeren’s strategic vision of promoting renewable energy in Spain and around the world. The partnership with Negratin reinforces our commitment to the development of our renewable energy portfolio and demonstrates our track record of success in sourcing and promoting large-scale projects.
Enrique Díaz Hinojosa, CEO of Negratin Global Services, added: “This aligns with Negratin’s commitment to renewable energy and contributes to sustainable practices. We accept Emeren’s expertise as true for the successful progression of projects, supporting our shared vision of a greener future. .
Negratin Global Services selected ATZ Investments, a renewable and infrastructure financial advisory boutique specializing in mergers and acquisitions, to support on the project transaction.
About Emeren Group Ltd
Emeren Group Ltd (NYSE: SOL) is one of the world’s leading developers, owners and operators of solar allocations, with a portfolio of IPP allocations and assets totaling more than 3 GW, as well as a portfolio of garages of more than 10 GWh in Europe, North America and North America. Asia. La company focuses on the development of solar energy allocations, structure management, and assignment financing with local professional groups in several countries. For more information, visit www. emeren. com
About Negratin Global Services
Negratin Global Services, S. L. , a Spanish organization of companies with more than 25 years of history, develops its activity through areas of activity, such as promotion, infrastructure structure and electrical installations, operation and maintenance, being a world benchmark as an EPC. Contractor in the photovoltaic sector. Headquartered in Granada and with delegations in Madrid, Cordoba and Malaga, Spain, and foreign delegations in Mexico, Panama, Honduras, Colombia, Chile and Japan.
Safe Harbor Statement
This press release comprises announcements that constitute “forward-looking” announcements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Replacement Act of 1934, as amended and explained in the USA. . Private Securities Litigation Reform Act of 1995. Whenever you read a fact that is not simply an old fact (for example, when the company describes what it “believes,” “expects,” or “anticipates”) will happen, what “will happen” or “possibly” will happen, and the like), you deserve to keep in mind that the Company’s expectations may not be accurate, even if you believe them to be moderate. The Company does not guarantee that future expectations will happen as described or that Further information regarding dangers and uncertainties that may also cause actual effects to differ materially from those contained in the forward-looking statements is included in the Company’s filings with the U. S. Securities and Exchange Commission, adding the Company’s Annual Report on Form 20. F. The Company undertakes no obligation, beyond that required by law, to update any forecast to reflect occasions or events subsequent to the date on which it is made, including whether the Company’s scenario would possibly change in the future.
For investor and media inquiries, please contact:
Emeren Group LtdSuzanne Wilson 1 (510) 631 6550Suzanne. wilson@emeren. com
Emeren Group Ltd – Relations Investisseursir@emeren. com
The Gary Dvorchak Blue Shirt 1 (323) 240-5796gary@blueshirtgroup. com
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SOURCE Emeren