ReneSola Announces Acquisition Of Certain Assets From U.S.-based Developer

(RTTNews) - ReneSola Ltd (SOL) has signed an agreement to acquire certain assets, including solar projects and accounts receivable, from an undisclosed U.S.-based developer in an all-stock deal that values the assets at approximately $8 million. Once completed, the transaction would immediately increase Renesola Power's development pipeline by approximately 200 MW.

ReneSola said the acquisition provides it with access to utility projects and development activities in a number of states, including Pennsylvania, California, New York, Maine, Illinois and Arizona. The deal is anticipated to close by the end of the third quarter of 2020.

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