Emeren Group Sells 2.8 MW Maine Solar Project to Altus Power

NORWALK, Conn., Dec. 20, 2024 /PRNewswire/ -- Emeren Group Ltd ("Emeren" or the "Company") (www.emeren.com) (NYSE: SOL), a leading global solar project developer, owner, and operator, today announced the sale of its 2.8 MWdc solar project located in Maine to Altus Power, Inc. ("Altus Power") (NYSE: AMPS), the largest commercial scale provider of clean electric power. This transaction underscores Emeren's commitment to advancing clean energy solutions and its active role in supporting renewable energy goals nationwide.

The project is the final asset to be sold from Emeren's Maine pipeline. The Company has brought the project to full commercial operation, achieving a significant milestone in its development. With this sale, Altus Power will assume ownership and long-term management, utilizing the project to deliver clean, sustainable energy to local communities and support Maine's renewable energy objectives.

Yumin Liu, CEO of Emeren Group, commented, "We are excited to partner with Altus Power on this project. This sale not only strengthens our presence in the U.S. market but also supports the growing demand for renewable energy in Maine. The project demonstrates Emeren's capacity to efficiently deliver COD projects without compromising quality. We look forward to Altus Power's continued success as they integrate high-quality solar assets like ours to their expanding portfolio."

"We're proud to expand our footprint in Maine through this acquisition. Emeren is a leader in renewable energy and we appreciate their collaboration and expertise in bringing this project to fruition," said Matt Marlow, co-Head of Investment and Structured Finance, Altus Power. "This acquisition reinforces our commitment to delivering clean energy to the communities we serve and supporting the growing number of Community Solar subscribers, driving the transition to a more sustainable future."

About Emeren Group Ltd

Emeren Group Ltd (NYSE: SOL), a renewable energy leader, showcases a comprehensive portfolio of solar projects and Independent Power Producer (IPP) assets, complemented by a significant global Battery Energy Storage System (BESS) capacity. Specializing in the entire solar project lifecycle — from development through construction to financing — we excel by leveraging local talent in each market, ensuring our sustainable energy solutions are at the forefront of efficiency and impact. Our commitment to enhancing solar power and energy storage underlines our dedication to innovation, excellence, and environmental responsibility. For more information, go to www.emeren.com.

For investor and media inquiries, please contact:

Emeren Group Ltd - Investor Relations
+1 (925) 425-7335
ir@emeren.com 

The Blueshirt Group
Gary Dvorchak
+1 (323) 240-5796
gary@blueshirtgroup.co

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SOURCE Emeren Group Ltd