ReneSola Ltd today announced that it sold a 1.23MW solar power project located in Ibaraki, Japan. The project qualifies for Japan's 32 Yen feed-in tariff. Revenue from the sale will be recognized in the third quarter and all proceeds have been collected.
ReneSola is developing 31.5MW of solar PV projects in Japan. Including the Ibaraki project, 29.6MW are in late stage development and expected to be monetized in the quarters ahead.