News provided by Emeren Group Ltd
Dec 30, 2024, 06:00 ET
NORWALK, Conn., Dec. 30, 2024 /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 signing of a 7-year Power Purchase Agreement (PPA). The solar farm, located in Poland’s southwest Silesia region, will supply clean energy under a pay-as-produced agreement to the Polish subsidiary of a multinational consumer goods business.
The solar farm will generate approximately 14,958 MWh of renewable energy annually, mitigating around 16,150 metric tons of carbon dioxide emissions each year. This achievement aligns with Poland’s national climate goals and global decarbonization efforts. Additionally, by supplying clean energy directly to the grid, the project enhances local energy security and supports the diversification of Poland’s energy mix, which remains heavily reliant on coal.
The project also delivers significant economic benefits to the region. Construction provided employment for 80 workers, including many from the Ukrainian community, and its ongoing operations will create 10 long-term jobs. Moreover, the solar farm will generate approximately 90,000 PLN annually in property taxes and 167,000 PLN in land taxes, supporting local infrastructure improvements and community development initiatives.
Yumin Liu, CEO of Emeren Group, commented, “The successful signing of a 7-year PPA demonstrates our ability to execute on critical aspects of our renewable energy strategy in key markets. These achievements reflect our commitment to delivering projects that drive environmental progress and create lasting value for communities. This project not only supports Poland’s energy transition but also strengthens the local economy and showcases our ability to deliver impactful renewable energy projects on a global scale. By partnering with strong industrial leaders and trusted buyers, we continue to advance our vision of a sustainable energy future.”
About Emeren Group Ltd
Emeren Group Ltd (NYSE: SOL), a renewable energy leader, showcases a comprehensive portfolio of solar projects and Independent Power Producer (IPP) assets, complemented by a significant global Battery Energy Storage System (BESS) capacity. Specializing in the entire solar project lifecycle — from development through construction to financing — we excel by leveraging local talent in each market, ensuring our sustainable energy solutions are at the forefront of efficiency and impact. Our commitment to enhancing solar power and energy storage underlines our dedication to innovation, excellence, and environmental responsibility. For more information, go to www.emeren.com.
For investor and media inquiries, please contact:
Emeren Group Ltd – Investor Relations
+1 (925) 425-7335
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Gary Dvorchak
+1 (323) 240-5796
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SOURCE Emeren Group Ltd