Emeren Group, a solar project developer, announced the sale of 57 MW solar project portfolio to Trina Solar Systems, the French subsidiary of Trina Solar International System Business Unit (ISBU).
The portfolio consists of five solar projects in various stages of development. One is in the early stage, and one is in the late stage; both were sold to Trina in Q3 2024. The remaining three projects are in the mid-stage and are to be monetized. In addition, there is potential for adding battery energy storage systems.
Yumin Liu, CEO of Emeren Group, commented, “We are proud to finalize this transaction with Trina Solar. Despite the complexities of the permitting process in France, our team successfully delivered a high-value portfolio that aligns with market demands. This sale highlights the strength of our development efforts and reinforces our commitment to advancing renewable energy in Europe. These projects reflect our shared dedication to sustainable energy and a cleaner future.”
In July, Emeren Group also announced the sale of a 42 MW ready-to-build solar project portfolio in Spain to CVE España, part of CVE, a French independent power producer (IPP). The portfolio comprises eight greenfield projects with capacities ranging from 5 MW to 6 MW. Six projects are in Castilla-y-Leon, one in Comunidad Valenciana, and the last in Andalucia.
According to Mercom’s 1H and Q2 2024 Solar Funding and M&A report, 113 solar project acquisitions totaling 18.5 GW were announced in 1H 2024 compared to 116 project acquisitions totaling 25.5 GW in 1H 2023.
This week, BayWa r.e., a developer of renewable energy projects, announced the sale of four solar projects to Octopus Energy Generation, a renewable energy investment firm. The projects have a combined capacity of 222 MW across the U.K. The sale comprises project rights for the 50 MWp Perrinpit Road solar project in Bristol, developed under a joint venture with Grüne Energien Solar.
