Emeren rises on sale of solar assets in Hungary

Emeren

21/12/2023 14:09

** Shares of solar project developer Emeren Group  SOL.N  
up 3.45% to $2.70 premarket 
    ** Co announces sale of 53.6 megawatt peak (MWp) solar
assets to wood-based panels manufacturer Kronospan/Douglas
Renewables in Hungary 
    ** Assets consists of six projects, with four already
operational, one scheduled to start operations by end-Q4 and
another project to start mid-2024 
    ** Deal completed in November-end, after final government
approval 
    ** Co said in November that delay in approval of the solar
project portfolio in Hungary had weighed on Q3 results
    ** Up to last close, stock had fallen 42.26% YTD