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Recently, PV project developer and operator ReneSola announced that the Sequoia Economic Infrastructure Revenue Fund has agreed to extend senior debt financing to $41.
6 million for ReneSola's 55MW PV project
in Poland.
It is understood that each project has a power generation capacity of 1MW.
Back in December 2017, Sequoia provided a $17.
3 million priority loan
for ReneSola's 55MW PV project.
All 55 items are under Poland's CFD regime and are eligible for a 15-year guaranteed tariff
.
The projects will be completed in three phases, with the first 14MW project already under construction and expected to be commercially operational
by the end of the second quarter of 2018.
The remaining 41MW of projects are expected to be completed in the second half of 2018 and connected
to the grid by the end of 2018.
Chairman and CEO of ReneSola said, "We are very pleased to be able to secure additional financing for our project and thank Sequoia Capital for the confidence
it continues to demonstrate through increased financial support.
This new financing instrument also further strengthens our potential
to develop markets for downstream projects in Poland.
”
He added, "In addition, it shows that the capital markets continue to believe that we can successfully develop projects
in the region.
" Securing financing is a meaningful step to further support solar deployment in Poland, and I look forward to expanding our opportunities
there.
" ”
:/, please indicate the source for reprinting)
Recently, PV project developer and operator ReneSola announced that the Sequoia Economic Infrastructure Revenue Fund has agreed to extend senior debt financing to $41.
6 million for ReneSola's 55MW PV project
in Poland.
It is understood that each project has a power generation capacity of 1MW.
Back in December 2017, Sequoia provided a $17.
3 million priority loan
for ReneSola's 55MW PV project.
All 55 items are under Poland's CFD regime and are eligible for a 15-year guaranteed tariff
.
The projects will be completed in three phases, with the first 14MW project already under construction and expected to be commercially operational
by the end of the second quarter of 2018.
The remaining 41MW of projects are expected to be completed in the second half of 2018 and connected
to the grid by the end of 2018.
Chairman and CEO of ReneSola said, "We are very pleased to be able to secure additional financing for our project and thank Sequoia Capital for the confidence
it continues to demonstrate through increased financial support.
This new financing instrument also further strengthens our potential
to develop markets for downstream projects in Poland.
”
He added, "In addition, it shows that the capital markets continue to believe that we can successfully develop projects
in the region.
" Securing financing is a meaningful step to further support solar deployment in Poland, and I look forward to expanding our opportunities
there.
" ”
:/, please indicate the source for reprinting)
/
