Distributed solar is continuing to up its scale in some of the biggest PV markets around the world, as the recent framework agreement signed by ReneSola is a testament to. The agreement is for the development of 335 MW of rooftop solar projects across China, for the Beijing-based PV development company Beijing Enterprises Clean Energy Group (BECE), who is upping its activities in the bustling Chinese solar market.
The framework agreement has actually been signed between ReneSola and a wholly owned subsidiary of BECE, with ReneSola providing the EPC services and BECE providing the financing. The projects are spread across Hebei, Shandong, Fujian, Shanxi and Jiangsu Provinces, and are expected to be completed by 30 June 2017, when ReneSola will sell them to BECE.
“This agreement confirms our belief that rooftop solar distributed generation projects will be promising in China,” commented ReneSola Chairman and CEO Xianshou Li. “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.”
Aside from ReneSola, the relatively unknown Chinese company BECE had a busy end to 2016 in the fast-paced Chinese PV market. In fact, in the second half of the year alone, BECE successfully acquired over 300 MW of utility-scale solar projects in China, and connected 200 MW to the grid. The company clearly means business, and may well be one to look out for in the future.