ReneSola announced an agreement with Brookfield Asset Management to sell its distributed generation (DG) operating assets in China, with a total capacity of 206.8MW over a 60-day period.
Brookfield Asset Management aims to acquire the project-based special purpose vehicles associated with the 206.8MW DG operating assets.
“This transaction will substantially reduce the Company’s leverage ratio and improve cash flow and liquidity,” ReneSola CEO Xianshou Li said.