Emeren Group Announces Sale of 29 MW of China Rooftop DG Projects

STAMFORD, CT, June 12, 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 that it has entered into an agreement to sell a portfolio of 6 rooftop distributed generation (DG) projects located in Henan province, totaling 29 MW, to CNNP Rich Energy Co., Ltd., a prominent leader in the China renewable energy sector.

Yumin Liu, CEO of Emeren Group, commented, "The sale of this solar asset is part of our new strategy in China's thriving solar market, focusing on five coastal provinces with favorable power prices and a robust economy. In addition, this sale will significantly strength our balance sheet."

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 CNNP Rich Energy Co., Ltd.

CNNP Rich Energy Co., Ltd. operates as a development, construction, and operation platform of its parent company China National Nuclear Power Company, focusing on the R&D of non-nuclear clean energy such as wind power, solar power, biomass power, tidal power, and thermal power.

SOURCE Emeren Group Ltd