Published by Todd Bush on December 28, 2023
STAMFORD, Conn., Dec. 28, 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 the successful purchase of an 86 MWp utility-scale solar project portfolio in Spain from Negratin Global Services, an industrial and service group that operates in energy, industry and installations within the renewable energy space.
This various state-of-the art portfolio comprises 13 utility-scale solar projects ranging from 6MW DC to 14 MW DC. They are classified as Ready-to-Build ("RTB") projects and are expected to produce 166,471,371 kWh/year of energy. The portfolio of projects is expected to begin construction late 2024, with the final projects to be built and connected to the grid by early 2025. All 13 projects are located in the center of Spain and will have the capacity to provide enough energy to 51,380 households in the local region, along with the saving of 19,544 vehicle emission every year.
>> Additional Reading: Yotta Energy Brings Total Series A to $16.5 Million and Secures $1.97 Million Award to Deploy Solar + Storage Microgrid at Nellis Air Force Base
Emeren plans to develop and build Battery Energy Storage Systems ("BESS") on the already permitted site for solar projects, as part of the transition to a low-carbon future, resulting in the saving of 35,903.9 tons of CO2 per year. Emeren Spain has an advanced-stage portfolio of over 300MW in solar and 100 MWh of storage, with a 2024/2025 pipeline of over 4 GWs.
Yumin Liu, CEO of Emeren Group, commented, "We are excited to acquire the portfolio of projects from Negratin Global Services as they fit well with Emeren's strategic vision for advancing renewable energy in Spain and globally. Partnering with Negratin reinforces our dedication to expanding our renewable energy portfolio and showcasing our successful track record in acquiring and selling utility-scale projects."
Enrique Diaz Hinojosa, CEO of Negratin Global Services, added, "This aligns with Negratin's commitment to renewable energy and contributes to sustainable practices. We trust Emeren's expertise for successful project development, supporting our shared vision for a greener future."
Negratin Global Services selected ATZ Investments, a renewable and infrastructure financial advisory boutique specializing in mergers and acquisitions, to support on the project transaction.
Emeren Group Ltd (NYSE: SOL) is a leading global solar project developer, owner, and operator with a pipeline of projects and IPP assets totalling 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
Negratin Global Services, S.L., a Spanish business group with more than 25 years of history, carries out its activity through various business areas, such as promotion, construction of energy infrastructure and facilities, operation and maintenance, being a reference worldwide as EPC contractor in the photovoltaic sector. With headquarters in Granada and delegations in Madrid, Córdoba, and Malaga, in Spain, and international delegations in Mexico, Panama, Honduras, Colombia, Chile, and Japan.
SOURCE Emeren
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside this Issue 🎯 Carbon Clean Achieves Fabrication Milestone on Flagshipone With the Project’s First Carbon Capture Unit Module 🚍 Powering Clean Commutes: Ballard and Wrightbus Team Up for Hydr...
Inside this Issue 💰 FuelCell Energy Announces Debt Financing for Derby Power Projects ⚛️ Plug Power's Expansion Accelerates Green Hydrogen Economy 📝 Zefiro Registers its First Methane Reduction Pr...
Inside this Issue 🏭 Nel ASA: Hy Stor Energy Places Gigawatt Capacity Reservation for Mississippi Clean Hydrogen Hub 🛺 Gearing Up for a Green Highway: Air Products Paves the Way for Hydrogen Transp...
Hydrogen Fuel Cell Microgrid Project: Energy Innovation, Integration and Assurance
FARGO, N.D., April 30, 2024 (GLOBE NEWSWIRE) -- [BWR Innovation](https://bwr-innovations.com/) announces it was recently granted a two-year subcontract by [The Global Connective Center, LLC](https:...
Honda Plants 85,000 Trees to Capture Carbon and Enhance Biodiversity Near its Ohio Operations
* _Tree-planting initiative will sequester carbon and provide watershed enhancement_ * _Honda partnering with local farmer to utilize tree-based conservation agricultural production tech...
Frontier Buyers Sign $58.3M Offtakes with Vaulted Deep
_Vaulted will remove 152,480 tons of CO₂ between 2024 and 2027 on behalf of Frontier buyers. Of those, 18,321 tons are expected to be delivered in 2024._ _Vaulted's approach offers 10,000+ year ...
Thiozen Pilot Successfully Produces Zero-Emission Hydrogen from Sour Gas Waste Streams
_Permian Basin pilot project demonstrates commercial viability of new de-souring method for oil and natural gas production_ PASADENA, Calif., May 1, 2024 /PRNewswire/ -- [Thiozen](https://thioze...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.