Emeren Group Announces Sale of First RTB Solar Power Project in Germany

Emeren Group Ltd a leading global solar project developer, owner, and operator, recently announced the successful sale of an 11.5 MWp PV project to the Swiss-based energy company MET Group. The project was sold at the Ready-to-Build ("RTB") stage and MET Group will complete the construction and operate the power plant. This is the first project developed to RTB stage by Emeren Germany GmbH, the Berlin-based subsidiary of Emeren Group, since its entry into the market in early 2021. Capcora, a German consulting company, acted as the exclusive sell-side M&A advisor to Emeren.

The new PV power plant will be located in Kentzlin nestled in the state of Mecklenburg-Western Pomerania and the commercial operations are expected to start in the second half of 2024.

Yumin Liu, CEO of Emeren Group, commented, "This project is an important milestone for our business in Germany and represents our commitment to developing renewable energy infrastructure in the region. We look forward to continuing to work with our local partners to build a more sustainable future."

Bernd Wollwerth-Carl, Director of Emeren Germany GmbH, added, "We are delighted to have sold our first RTB project in Germany. Starting from scratch in 2021, we managed to grow quickly in a competitive German PV market, establishing partnerships and building a pipeline of medium and large-scale ground mounted PV plants. With MET, we found a reliable and competent partner and we look forward to further expanding our cooperation."

Christian Hürlimann, Renewables CEO of MET Group, commented, "The Kentzlin project fits well into MET's strategic vision to enter the highly competitive German renewables market, as well as to further expand its renewables portfolio across Europe and particularly in Western Europe. Emeren Group's expertise in renewable energy was instrumental in achieving this milestone, and we anticipate future collaboration on additional projects."

Henning Prigge, Director at Capcora, adds: "We are delighted to have played a pivotal role in Emeren's successful project sale to MET Group, a prominent integrated European energy company. Our long-standing partnership with Emeren has allowed us to witness their growth and success, and we couldn't be happier to have been a part of this milestone. This collaboration reinforces our commitment to providing top-notch support and solutions to our valued clients."

Source: prnewswire.com