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ReneSola to sell solar portfolio in Hungary

Chinese solar project developer ReneSola Ltd. has agreed to sell a portfolio of small-scale projects located in Hungary to Danish-registered Obton, reports, a solar power news portal.

Image: Pixabay

The portfolio comprises 24 solar plants, with an average size of approximately 0.5 megawatts (MW) per plant, bringing a combined capacity of 13.9 MW. These 24 small-scale projects are qualified under the Hungarian 25-year feed-in tariff (FiT) scheme, where fixed electricity prices are paid to renewable energy producers for each unit of energy produced and fed into the electricity grid.

Obton is an investment and management company specializing in renewable projects, and manages a solar PV portfolio of more than 719 MW with an enterprise value of EUR 1.4 billion. Its plants are primarily located in France, Italy, Germany, Belgium, and the Netherlands, notes.