ReneSola announced it has sold two solar projects in Holyoke, Massachusetts to New York-based C2 Special Situations Group, a private investment firm focused on investments in the distributed generation sector.
The Projects have a combined capacity of approximately 1.3 MWDC and will sell the power generated to the local utility under a 20-year purchase agreement.
The Projects were completed in Q4 2016 and qualified for the Massachusetts RPS Solar Carve-Out II Program.
Xianshou Li, chairman and chief executive officer of ReneSola, said, “This agreement extends our track record of developing and monetizing projects in more attractive developed markets. We believe the U.S. remains an important market for us due to attractive project economics, coupled with streamlined infrastructure for project development.”
With over 100 MW project pipeline in the U.S., the company expects major revenue growth from the region in the years ahead, Li added.
Richard Dovere, managing partner of C2 added: “These systems represent another quality addition to our firm’s growing portfolio of distributed generation assets throughout the United States.”