The Chinese photovoltaic manufacturer announced today that it has completed the necessary transactions to procure the two parks, which are around 5 MW each in size. In addition to arranging their construction, China Sunergy will also own and operate the parks.
While building work is expected to get underway in the next weeks, it is hoped the 10 MW will be grid connected before April 1, in order to qualify for the Renewables Obligation Certificate (ROC) level of 2.0 per MWh.
CEO, Stephen Cai commented, "We will continue our downstream strategy, which is to increase the investment into solar projects globally. These two solar parks in the UK are just starting points for us and we look to expanding across Europe, including France, Germany, Romania, and Spain, etc., where we can achieve a healthy return rate on our projects."
Overall, China Sunergy said it has a photovoltaic pipeline worth over 50 MW, and "sufficient" financing in place to execute it.