ReneSola Ltd. has sold its 16.5 MW Membury utility solar project in the U.K. to Foresight Solar Fund Ltd.
The Membury project, which incorporates ReneSola's Virtus II modules, was connected to the grid in March and is qualified for the U.K.'s Renewables Obligation Certificates 1.4 program.
This represents ReneSola's third project sale to Foresight Group, following its 34.6 MW Port Farm project in August and its 6.4 MW Field House project in July.
‘The development and sale of our 16.5 MW Membury project, which was the last part of our initial pipeline of 71 MW of projects we developed in the U.K., further strengthens our foothold in the downstream market and contributes to our profitability and cashflows,’ says Xianshou Li, ReneSola's CEO.
