SHANGHAI, Dec. 13, 2017 /PRNewswire/ -- ReneSola Ltd ("ReneSola" or the "Company") (www.renesolapower.com) (NYSE: SOL), a leading fully integrated solar project developer and operator, announced today that Sequoia Economic Infrastructure Income Fund, which invests in a diversified portfolio of senior and subordinated economic infrastructure debt investments, had agreed to provide senior debt facility for ReneSola's 55MW of projects in Poland, each with a capacity of 1MW. All of these projects are under Poland's Contract for Difference (CFD) regime and eligible for a 15-year guaranteed tariff.
These projects will be completed in three phases. The first 14MW are under construction and are expected to reach commercial operation in the first quarter of 2018. The construction for the remaining 41MW of projects is expected to be completed in the third quarter 2018.
Xianshou Li, Chairman and Chief Executive Officer of ReneSola, commented: "We are excited to partner with Sequoia Economic Infrastructure Income Fund. This financing facility reinforces our confidence in the potential of the downstream project development market in Poland. It also demonstrates the confidence that the capital markets put in our ability to successfully develop projects in the region. We look forward to further supporting solar deployment in Poland and other emerging markets."
Founded in 2005, and listed on the New York Stock Exchange in 2008, ReneSola (NYSE: SOL) is an international leading brand of solar project developer and operator. Leveraging its global presence and solid experience in the industry, ReneSola is well positioned to develop green energy projects with attractive return around the world. For more information, please visit www.renesolapower.com.
About Sequoia Economic Infrastructure Income Fund
Sequoia Economic Infrastructure Income Fund Limited is a Guernsey domiciled, closed-ended fund listed on the London Stock Exchange (ticker SEQI), a member of the FTSE 250 Index. The Fund focuses primarily on taking subordinated and select senior debt exposures to economic infrastructure projects, companies and special purpose vehicles.
The Fund invests in the UK, Western Europe, North America, Australia and New Zealand through acquiring both loans and securities. The Fund's objective is to provide investors with regular, sustained, long-term distributions and capital appreciation from a diversified portfolio of infrastructure debt.
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SOURCE ReneSola Ltd.