Emeren Group sells 42 MWp RTB Solar Project Portfolio in Spain

STAMFORD, Conn., July 9, 2024 /PRNewswire/ — Emeren Group Ltd (“Emeren” or the “Company”) (www.emeren.com) (NYSE: SOL), a leading global developer, owner and operator of solar projects, today announced the successful sale of a 42 MWp RTB solar project portfolio in Spain to CVE España, part of CVE, the French IPP.

This diverse portfolio includes eight Greenfield projects developed by Emeren since 2021, with project sizes ranging from 5 MW to 6 MW. One project has already been closed and the rest of the projects will be closed in the third quarter, classified as ready for construction (“RTB”). Six of the eight projects are located in Castile-y-León, another in Valencian Community and the last one in Andalusia. These eight projects will generate a total of 92,792.936 MWh/year of energy, or as much as 28,360 households in the region consume. Avoided carbon dioxide emissions will be in the order of 20,093.73 tons of CO2 per year.

Yumin LiuCEO of Emeren Group, commented: “We are pleased to partner with CVE Group on a portfolio of eight solar power plants. This is a great achievement and an important milestone for our business in Spainand reinforces our commitment to expanding our solar and battery storage portfolio. We started developing this portfolio in 2021 and have managed to grow rapidly in the competitive and promising Spanish photovoltaic market. The long-term outlook for solar photovoltaics in Spain AND Europe remains positive, driven by strong political support, technological advances and the growing focus on renewable energy. Given the favorable environment, we are particularly excited about this partnership with CVE Group and the synergies and opportunities it will bring. We look forward to a successful and productive collaboration.”

Pierre de Froidefond, Managing Partner of CVE, “We are delighted that Emeren has entered into this partnership with CVE and we look forward to further developing our relationship. This transaction accelerates our growth as it will allow us to triple our installed capacity by the end of 2025 (to 65 MWp) in Spainactive market in line with our strategic goals: production of distributed solar energy and its sale through PPA. This will enable us to continue to meet the needs of corporate consumers in Spain.”

About Emeren Group Ltd

Emeren Group Ltd (NYSE: SOL), a leader in renewable energy, presents a comprehensive portfolio of solar projects and Independent Power Producer (IPP) assets, complemented by a significant global Battery Energy Storage System (BESS) capacity. Specializing in the entire solar project lifecycle—from development to construction to financing—we differentiate ourselves by leveraging local talent in each market, ensuring our sustainable energy solutions are at the forefront of performance and impact. Our commitment to expanding solar and energy storage capacity underscores our commitment to innovation, excellence and environmental responsibility. For more information, visit www.emeren.com.

About CVE Group

CVE, a mission-driven company, is a French independent producer of renewable energy, multi-country and multi-energy (solar, biogas and hydrogen). The group develops, finances and builds solar power plants, biogas plants and hydrogen production plants, as well as their long-term operation. CVE’s objective is to promote new business models based on the direct sale of energy through local renewable energy production and meeting the needs of industrial customers, local authorities, businesses and farmers. Through its green energy offer Respeer, CVE implements this approach on the market. CVE is ISO 9001 and ISO 14001 certified. Headquarters in MarseilleThe group is present in France, Chile, United States, South Africa AND Spain. CVE currently employs 450 people and plans to achieve an installed renewable capacity of 3.6 GWp by 2028. The company is also certified as a “B Corp”, a prestigious CSR label, and thus joins the community of international companies that adhere to very high social and environmental standards. More information: IPP | CVE (cvegroup.com)

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