Emeren sells 17 MW solar portfolio in Poland

NORWALK, Conn. - Emeren Group Ltd (NYSE: SOL), a global solar project developer with a market capitalization of approximately $103 million, has completed the sale of a 17 megawatt (MW) solar portfolio in Poland, the company announced today. This transaction includes a 15 MW project under a Power Purchase Agreement (PPA) and an additional 2 MW, all of which were developed and constructed by Emeren. According to InvestingPro data, the company has demonstrated strong revenue growth of nearly 26% over the last twelve months, suggesting robust operational execution.

The sale is part of Poland's efforts to meet its climate targets and transition to renewable energy sources. The solar projects are expected to contribute to local economic development by creating jobs and generating annual tax revenues that will benefit infrastructure and community services. With a healthy current ratio of 4.34, Emeren maintains strong liquidity to support its growth initiatives.

Yumin Liu, CEO of Emeren, emphasized the significance of the sale, stating, "The successful development, construction, and sale of this 17 MW solar portfolio highlight our commitment to advancing impactful renewable energy initiatives and delivering meaningful value to our stakeholders." Liu further noted that this achievement underscores Emeren's role as a trusted leader in the solar energy sector, particularly in key markets like Poland.

Emeren Group Ltd is recognized for its extensive solar project portfolio and Independent (LON:IOG) Power Producer (IPP) assets, along with a significant global Battery Energy Storage System (BESS) capacity. The company prides itself on managing the entire solar project lifecycle and utilizing local talent to ensure that its sustainable energy solutions lead in terms of efficiency and impact.

This press release statement did not disclose the financial details of the sale or the buyer of the solar portfolio. Trading at a price-to-book ratio of just 0.32, InvestingPro analysis suggests the stock may be undervalued, with additional insights available through their comprehensive Pro Research Report, which provides deep-dive analysis of 1,400+ US stocks including Emeren Group. The company continues to focus on its mission to support renewable energy adoption and contribute to global sustainability efforts.

The information for this article is based on a press release statement from Emeren Group Ltd.

"In other recent news, Emeren Group Ltd reported robust third-quarter financial results with revenues reaching $12.9 million and a net income of $4.8 million. The company also announced the sale of a 65 MWp solar project portfolio to Trina Solar International System Business Unit, marking a significant step in strengthening its presence in Germany's renewable energy sector. The portfolio includes three solar projects in Germany, with potential for integration of Battery Energy Storage Systems (BESS) to enhance efficiency and long-term value. On the analysts' front, the company's stock maintains a consensus buy rating.

In addition, Emeren secured significant battery energy storage contracts in the U.S., expecting revenue exceeding $69 million from 28 projects over the next two to three years. Despite operational challenges, including delays in European government project approvals, the company anticipates strong revenue growth in the following quarters. Emeren also revised its full-year revenue guidance for 2024 to between $97 million and $102 million. These are the recent developments for Emeren Group Ltd, a global solar project developer with a market capitalization of $97 million."

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