ReneSola announced that Sequoia Economic Infrastructure Income Fund agreed to extend senior debt facility to 36 million euro for ReneSola’s 55MW of projects in Poland, each with a capacity of 1MW.
Sequoia in December 2017 provided a senior loan of 15 million euro for all of ReneSola’s 55MW projects in the region.
ReneSola said all of these 55MW projects are under Poland’s Contract for Difference (CFD) regime and eligible for a 15-year guaranteed tariff. ReneSola will complete these projects in three phases.
ReneSola will reach commercial operation of the first 14MW, which is under construction, by the end of the second quarter of 2018. ReneSola will construct the remaining 41MW of projects in the second half of 2018 and will connect to the grid in late 2018.