STAMFORD, Conn., Feb. 12,
2024 /PRNewswire/ -- Emeren Group Ltd ("Emeren" or
the "Company") (www.emeren.com) (NYSE: SOL), a leading global solar
project developer, owner, and operator, today announced that
its Board of Directors has approved an accelerated stock repurchase
(ASR) program of up to $10 million
and could be completed by the end of March
2024. This ASR is incremental to the $11 million remaining authorization in Emeren's
buyback program at the end of Q3 2023.
Yumin Liu, CEO of Emeren Group,
stated, "This accelerated stock repurchase program underscores the
Board's confidence in the company's future growth and its
commitment to delivering shareholder value. With our expertise in
solar project development, strong industry network, and solid
balance sheet, we are making significant progress towards becoming
an industry leading global solar and storage developer. Our
strategic focus remains on maintaining a lean cost structure and
achieving sustainable profitability, while monetizing our extensive
advance-stage project pipeline."
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 10
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
Safe Harbor Statement
This press release contains statements that constitute
''forward-looking" statements within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and as defined in the
U.S. Private Securities Litigation Reform Act of 1995. Whenever you
read a statement that is not simply a statement of historical fact
(such as when the Company describes what it "believes," "expects"
or "anticipates" will occur, what "will" or "could" happen, and
other similar statements), you must remember that the Company's
expectations may not be correct, even though it believes that they
are reasonable. The Company does not guarantee that the
forward-looking statements will happen as described or that they
will happen at all. Further information regarding risks and
uncertainties that could cause actual results to differ materially
from those in the forward-looking statements is included in the
Company's filings with the U.S. Securities and Exchange Commission,
including the Company's annual report on Form 20-F. The Company
undertakes no obligation, beyond that required by law, to update
any forward-looking statement to reflect events or circumstances
after the date on which the statement is made, even though the
Company's situation may change in the future.
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SOURCE Emeren