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Renesola Power Announces Acquisition Of Emeren

Oct 11, 2022•about 3 years ago

Acquiring Company

ReneSola Power

Acquired Company

Emeren Limited

SolarRenewable EnergyEnergySolarEnergyFinancial Services

Description

ReneSola Ltd ("ReneSola Power" or the "Company") (www.renesolapower.com) (NYSE: SOL), a leading fully integrated solar project developer, today announced the acquisition of Emeren Limited ("Emeren"), a United Kingdom-based utility-scale solar power and battery projects developer in Europe. The acquisition transaction was completed on October 10 through an all-cash deal with an earn-out provision.

Company Information

Company

ReneSola Power

About

ReneSola Power (NYSE: SOL) is a leading global solar project developer and operator. The Company focuses on solar power project development, construction management and project financing services. With local professional teams in more than 10 countries around the world, the business is spread across number of regions where the solar power project markets are growing rapidly and can sustain that growth due to improved clarity around government policies. The Company's strategy is to pursue high-margin project development opportunities in these profitable and growing markets; specifically, in the U.S. and Europe, where the Company has a market-leading position in several geographies, including Poland, Hungary, Minnesota and New York. For more information, please visit www.renesolapower.com.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed