ReneSola Earns 20-Year REC Contracts for N.Y. and Ill. Solar Projects

Photo voltaic challenge developer ReneSola Ltd. (ReneSola Energy) has picked up 20-year index renewable vitality credit score (REC) contracts for 2 photo voltaic initiatives in two states. The New York State Power Analysis and Improvement Authority has chosen ReneSola Energy’s 22 MW Roosevelt Photo voltaic challenge in Massena, N.Y. to be one among 22 initiatives as a part of the state’s largest land-based renewable vitality initiatives. ReneSola Energy was awarded a 20-year index REC contract as a part of the state’s renewable program in an effort to succeed in New York’s objectives to exceed 70% renewables by 2030 and nil emissions by 2040 as required by Local weather Management and Neighborhood Safety Act.

As well as, the Illinois Commerce Fee has awarded a 20-year index REC contract to ReneSola Energy’s 20 MW utility-scale photo voltaic challenge in Wilmington, Unwell. as a part of the state dedication to double funding in renewable vitality in direction of its objective of 40% renewable vitality by 2030 and 50% by 2040.

“We’re very excited and honored that our two utility-scale photo voltaic initiatives in New York and Illinois had been awarded REC contracts,” says Yumin Liu, ReneSola Energy’s CEO. “The photo voltaic business continues to profit from the accelerating inexperienced vitality transition to struggle local weather change. Our initiatives are in step with our environmental, social and governance practices, that’s, not solely will it contribute to state-level renewable vitality targets, however it should additionally make an affect to the native communities by creating jobs.”