Renesola (SOL) Shares Risen 58% Over the Week


Solar ventures in Romania have been offered by ReneSola Ltd (SOL), a manufacturer of advanced solar power systems. ReneSola recently sold Alternus Energy two solar power plants with a combined capacity of 15.4 MW, which increased the buyer’s portfolio to about 140 MW. Since Alternus plans to expand its power plant portfolio in Italy, Poland, and Romania, ReneSola has a new sale potential.

After developing transactions, ReneSola’s shares are increasing and have gained nearly 58% over the past week. With the eventual selling of finished major solar plants, the business makes money by investing in solar energy. The need for renewable green energy is increasing in Eastern Europe and other areas. Therefore, by 2030, Romania plans to receive 30.5% of its electricity from renewable sources. Around 2020 and 2025, the country’s solar energy demand is projected to rise by an average of 10 percent. For ReneSola, this is a chance to monetize solar ventures easily.

At present, ReneSola is focused on the fastest-growing markets for solar energy: Canada, Spain, Poland, Hungary, France, Vietnam, and Turkey. The group is now targeting new markets in India and South Korea.

Any of ReneSola’s ventures are now being sold, and big transactions are being closed by the firm. In specific, ReneSola sold solar power plants with a total capacity of 16 MW in Poland in early December. The plant, which comprises more than one and a half thousand solar panels with a total capacity of 4.3 MW mounted on the roofs of buildings, was also sold in November.

ReneSola Ltd (SOL) went up by +15.44% to $23.25 on Tuesday after closing on $40 million in new financing.