"We have already signed attractive PPAs (power purchase agreements) for Branston through March 31, 2027, which we estimate will provide approximately $25 million EBITDA by the end of 2026," the company said. The company said it was revising its full-year outlook downwards due to the strategy shift in Poland and Hungary and to approximately $6 million of unexpected negative foreign exchange impact. ReneSola expects full-year (2022) revenue in the range of $85 million to $90 million, from $100 to $120 million earlier. Similarly, the full-year income forecast stands at $7 to $8 million from $9 to $10 million earlier. As part of its European IPP strategy, the company decided to withhold approximately 110 MW of project sales in Poland and Hungary, which they originally planned to sell in Q4 2022. ReneSola will now construct and operate these projects in their European IPP portfolio. The company also acquired a utility-scale power and battery project developer, Emeren, in Europe for another $16 million with earn-out provisions.