Joint Venture: Renesola and Vodasun Cooperate on Ground-Mounted Solar Projects

Frankfurt am Main, Germany - The two project developers Renesola and Vodasun have announced a strategic partnership for the joint development and marketing of ready-to-build ground-mounted solar projects in Germany.

As part of the agreement, ReneSola Power and Vodasun will create a 50/50 joint venture company with a starting project portfolio of 50 to 100 MW. The JV intends to develop these projects, as well as develop an additional 50 to 100 MW of new projects per year. Capcora, a Frankfurt-based consulting firm specialized in real assets and the procurement of equity, mezzanine and debt capital for energy and infrastructure projects, acted as M&A advisor to Renesola.

"The JV will benefit both companies by building a more robust project portfolio while leveraging our know-how and experience in project development. Additionally, we believe the JV will produce cost synergies to enhance profitability as we navigate the challenging macro environment", says Josef Kastner, CEO of Renesola Europe about the cooperation.

Renesola Power is a leading global developer and operator of solar projects. The company focuses on the development, construction management and financing of solar projects. With local teams in more than 10 countries, the business is spread across a number of regions where the market for solar projects is growing rapidly. Vodasun has been planning, building and operating turnkey PV plants throughout Germany since 2009. The range of services extends from systems on single-family homes to complex large-scale projects with installed capacities in the megawatt range.

Source: IWR Online, 06 Oct 2020