Emeren Group Sells 65 MWp Solar Project Portfolio in Germany to Trina Solar

Rhea-AI Summary

Emeren Group (NYSE: SOL) has announced the sale of a 65 MWp solar project portfolio to Trina Solar International System Business Unit (ISBU). The portfolio consists of three projects in Germany: one in Saarland, and two Agri-PV projects in Mecklenburg-Western Pomerania and Lower Saxony.

The projects are expected to close in mid-to-late 2025 and have potential for Battery Energy Storage Systems (BESS) integration. This sale follows a previous successful collaboration between Emeren and Trina Solar in France, strengthening Emeren's position in Germany's renewable energy market.

The deal marks Trina Solar ISBU's entry into the German renewable energy market, which they consider a key European market for their downstream PV and BESS project development efforts. Trina has established a team in Germany and plans to expand alongside their business growth.

Positive

• Sale of significant 65 MWp solar portfolio in Germany
• Expansion of business relationship with major industry player Trina Solar
• Strategic entry into key German renewable energy market
• Potential for additional revenue through BESS integration

Negative

• Project closure delayed until mid-to-late 2025
• Revenue impact deferred to future periods

NORWALK, Conn., Jan. 15, 2025 /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 sale of a 65 MWp solar project portfolio to Trina Solar International System Business Unit ("ISBU"). Trina Solar ISBU ("Trina") is the downstream project development arm of Trina Solar Co., Ltd. (SHA: 688599), specializing in development, engineering, procurement, construction (EPC), operations and maintenance (O&M), and asset management of solar and battery storage utility-scale projects worldwide.

The portfolio, which strengthens Emeren's position in Germany's prominent renewable energy market, comprises three projects: One in Saarland, western Germany; the second an innovative Agri-PV project in Mecklenburg-Western Pomerania, northern Germany; and finally, another Agri-PV initiative located in Lower Saxony, northern Germany. These projects are expected to close in mid-to-late 2025 and may offer potential for Battery Energy Storage Systems (BESS) integration, further enhancing operational efficiency and long-term value.

Yumin Liu, CEO of Emeren Group, commented, "This sale builds on the success of our previous collaboration with Trina Solar in France several months ago, further advancing our renewable energy footprint in Europe. Germany, as one of the most dynamic markets for solar energy, is a key focus for us. The development and sale of this high-quality portfolio highlight the expertise of our team and our commitment to delivering impactful projects. Partnering with Trina Solar once again enables us to achieve our shared vision of driving innovation and sustainability in some of the world's most competitive renewable energy markets."

Leonardo Lotti, Head of EMEA for Trina, added, "This portfolio marks the beginning of Trina Solar ISBU's activities in the German renewable energy market, anticipated to be a key European market for our downstream PV and BESS project development efforts. We have recently formed a diverse and ambitious team in Germany, which is expected to grow alongside our business. Germany's ambitious renewable energy goals make it a crucial market for solar energy development, and we are pleased to collaborate with Emeren Group on this portfolio. Their expertise in market execution and commitment to high standards have been crucial in advancing these projects. We are confident in the successful delivery of these projects and look forward to strengthening our partnership with Emeren as we contribute to Europe's transition to a sustainable energy future."

About Emeren Group Ltd

Emeren Group Ltd (NYSE: SOL), a renewable energy leader, showcases a comprehensive portfolio of solar projects and Independent Power Producer (IPP) assets, complemented by a significant global Battery Energy Storage System (BESS) capacity. Specializing in the entire solar project lifecycle — from development through construction to financing — we excel by leveraging local talent in each market, ensuring our sustainable energy solutions are at the forefront of efficiency and impact. Our commitment to enhancing solar power and energy storage underlines our dedication to innovation, excellence, and environmental responsibility. For more information, go to www.emeren.com.

About Trina Solar ISBU Europe

Trina Solar ISBU, a business unit of Trina Solar, is an innovative solutions utility-scale global solar power and battery storage solutions developer for international markets. With more than 15 years of professional experience and track records in project development, financing, EPC, and O&M, Trina Solar ISBU is committed to being a global leader in the development and management of smart renewable energy solutions and creating value for local stakeholders and international investors. We are active in more than 20 countries and regions, including but not limited to the USA, UK, Italy, France, Greece, Spain, Japan, Colombia, Mexico, Chile, Peru, Australia, South Korea, Vietnam, Malaysia, Philippines, Cambodia, Brazil, Poland, Germany, Hungary, Croatia.In Europe, it is currently active in 9 countries and - to date - it has constructed over 2.5GW of grid-connected energy projects.

For investor and media inquiries, please contact:

Emeren Group Ltd - Investor Relations
ir@emeren.com 

The Blueshirt Group
Gary Dvorchak
+1 (323) 240-5796
gary@blueshirtgroup.co 

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SOURCE Emeren Group Ltd

FAQ

What is the size of the solar project portfolio SOL sold to Trina Solar in Germany?

Emeren Group (SOL) sold a 65 MWp solar project portfolio to Trina Solar in Germany.

Where are SOL's three new German solar projects located?

The projects are located in Saarland (western Germany), Mecklenburg-Western Pomerania (northern Germany), and Lower Saxony (northern Germany).

When will SOL's German solar projects close?

The projects are expected to close in mid-to-late 2025.

What additional features could be integrated into SOL's German solar projects?

The projects may include Battery Energy Storage Systems (BESS) integration to enhance operational efficiency and long-term value.

What type of solar projects is SOL developing in northern Germany?

SOL is developing two Agri-PV projects in northern Germany, located in Mecklenburg-Western Pomerania and Lower Saxony.