Renesola and Eiffel aims to develop 1 GW of solar capacity in Europe
Post date: 06/01/2021 - 13:33
Chinese solar project developer Renesola Ltd has signed a Memorandum of Understanding (MoU) with asset management firm Eiffel Investment Group to establish a joint venture that will provide financing for Renesola Power's current and future solar projects across Europe. Renesola and Eiffel will create a company with Renesola Power having a 51 percent ownership stake and Eiffel injecting new capital into the joint venture for a 49 percent ownership. The JV intends to develop up to 1 GW of solar projects in the next several years across Europe. Eiffel manages more than €3 billion.
Germany-based Capcora served as financial advisor to Renesola for the fundraising process, managing a structured bidding process, evaluating the pipeline and developing a suitable joint venture structure.