Emeren(SOL) Prnewswire·2024-07-09 13:00Transaction Details - Emeren Group successfully sold a 42 MWp RTB solar project portfolio in Spain to CVE España, a French IPP [1] - The portfolio consists of eight Greenfield projects developed since 2021, with sizes ranging from 5MW to 6MW [1] - One project has been closed, while the remaining seven will be completed in Q3 2024 [1] - The projects are located in Castilla-y-Leon, Comunidad Valenciana, and Andalucia [1] - The portfolio will generate 92,792.936 MWh/year, equivalent to the energy consumption of 28,360 households [1] - The projects will avoid approximately 20,093.73 tons of CO2 emissions annually [1] Strategic Impact - The transaction marks a significant milestone for Emeren Group's business in Spain, reinforcing its commitment to expanding solar and battery storage portfolios [2] - The Spanish PV market is described as competitive and promising, with a positive long-term outlook driven by policy support, technological advancements, and renewable energy emphasis [2] - CVE Group expects the transaction to triple its installed capacity in Spain to 65MWp by late 2025, aligning with its strategic goals of producing distributed solar energy and selling through PPAs [2] Company Profiles - Emeren Group is a global leader in renewable energy, specializing in solar project development, ownership, and operation, with a significant global Battery Energy Storage System (BESS) capacity [3] - The company focuses on the entire solar project lifecycle, leveraging local talent to ensure efficient and impactful sustainable energy solutions [3] - CVE Group is a French independent producer of renewable energies, operating in solar, biogas, and hydrogen across multiple countries [4] - The company aims to promote new business models based on direct energy sales, targeting industrial consumers, local authorities, businesses, and farmers [4] - CVE Group plans to reach a renewable installed capacity of 3.6 GWp by 2028 and is certified "B Corp" for high social and environmental standards [4]