Distributed solar generation systems has been winning attraction around the world, including China. ReneSola, a vertically-integrated solar project developer, has signed a framework agreement with a wholly-owned subsidiary of Beijing Enterprises Clean Energy Croup (BECE) to develop 335MW of rooftop distributed PV systems in China.
With its entrance into China’s solar market, BECE has already acquired over 300MW of utility-scale solar projects in China, of which 200MW has connected to the grid. BECE is optimistic to future of distributed generation (DG) solar systems in China and thus selected ReneSola as its partner to strengthen related business. Under terms of the agreement, ReneSola will offer EPC services, while BECE will be responsible for project financing.
The two parties will jointly develop 335MW of rooftop DG solar systems in Hebei, Shandong, Fujian, Shanxi and Jiangsu Provinces. All the projects are anticipated to be completed by June 30, 2017. Upon completion, ReneSola will sell the projects to BECE.
"This agreement confirms our belief that rooftop solar distributed generation projects will be promising in China,” commented Xianshou Li, Chairman and Chief Executive Officer of ReneSola. “We entered the China distributed generation market a few months ago and have made impressive progress as we continue to develop more distributed generation pipelines. This new business opportunity together with our successful utility scale project development business will contribute meaningfully to our profitability in the year ahead.”