The plants totaling 60MW are located in China’s Qinghai and Xinjiang provinces and are all connected to the grid.
The parties are yet to sign a final deal for the proposed transaction as specific provisions are yet to be determined.
ReneSola CEO Xianshou Li said, "Once completed, this deal will enable us to decrease our debt level and increase our cash flow, which will help us improve our financial position.
"Thus, we will have greater flexibility to further expand our business in new and existing markets."
Jiangsu Akcome president Chenghui Zou said, "We have a long-standing relationship with ReneSola and look forward to strengthening our partnership through this acquisition.
"We respect ReneSola’s ability to build top quality solar products, and are confident that this is a win-win deal."
