STAMFORD, Conn. ,
Nov. 9,
2023 /PRNewswire/ -- Emeren Group Ltd ("Emeren" or
the "Company") (www.emeren.com) (NYSE: SOL), a leading global solar
project developer, owner, and operator, today announced the
successful sale of a state-of-the-art portfolio comprising five
Battery Energy Storage Systems (BESS) in Italy to Matrix Renewables ("Matrix"). This
transaction marks a significant milestone within the framework of
the proprietary Development Service Agreement (DSA) jointly
executed in June, delineating the ambitious development of an
extensive 1.5 GW BESS portfolio. This achievement represents the
second collaborative deal between Emeren and Matrix, signifying
substantial growth in the partnership and reinforcing Emeren's
position as a leading entity in the renewable energy sector.
The five projects feature cutting-edge standalone storage
systems, with a cumulative capacity of 3,787 MWh. The entire
portfolio is strategically located in the Italian southern region
of Apulia, significantly enhancing
the regional energy infrastructure. The Ready-To-Build status is
expected to be achieved by late 2024.
Yumin Liu, CEO of Emeren Group,
commented, "We are extremely proud of this transaction, which is
also evidence of Emeren's unwavering commitment and our ability to
deliver on our growth promises. We are not only reinforcing our
leadership in the European storage pipeline development, but we are
also setting new industry benchmarks, particularly in Italy. We are also extremely glad that the
partnership with Matrix is flourishing, bringing mutual success and
expansion opportunities to both entities in this rapidly evolving
sector."
Chris Matthews, MD for
Europe at Matrix Renewables,
commented, "Our partnership with Emeren underscores our commitment
to driving renewable energy expansion and sustainability in the
vibrant Italian market. The acquisition of the 410 MW BESS
portfolio significantly advances our mission to reshape the energy
landscape and fortify the resilience of the power grid."
About Emeren Group Ltd
Emeren Group Ltd (NYSE: SOL) is a leading global solar project
developer, owner, and operator with a pipeline of projects and IPP
assets totaling over 3 GW, as well as a storage pipeline of over 6
GWh across Europe, North America, and Asia. The Company focuses on solar power
project development, construction management and project financing
services with local professional teams across multiple countries.
For more information, go to www.emeren.com.
About Matrix Renewables
Matrix Renewables is a renewable energy platform created and
backed by global alternative asset manager TPG and its $16
billion impact-investing platform TPG Rise. Matrix Renewables'
current portfolio is comprised of 11.7 GW in renewable energy and
storage projects in Europe,
North America, and Latin America. For more information,
visit www.matrixrenewables.com or send an email to
info@matrixrenewables.com
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SOURCE Emeren Group Ltd