# EDGAR Filing Document

**Accession Number:** 0001383838
**File Stem:** 0001398344-25-022509
**Filing Date:** 2025-12
**Character Count:** 15116
**Document Hash:** 78c3d4fcc0f15b7b14b25018a6623569
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001398344-25-022509.hdr.sgml**: 20251216

**ACCESSION NUMBER**: 0001398344-25-022509

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20251216

**DATE AS OF CHANGE**: 20251216

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Emeren Group Ltd
- **CENTRAL INDEX KEY:** 0001417892
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC & OTHER SERVICES COMBINED [4931]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000
- **STATE OF INCORPORATION:** D8
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-84565
- **FILM NUMBER:** 251573469

**BUSINESS ADDRESS:**
- **STREET 1:** 149 WATER STREET, SUITE 302
- **CITY:** NORWALK
- **STATE:** CT
- **ZIP:** 06854
- **BUSINESS PHONE:** 925-425-7335

**MAIL ADDRESS:**
- **STREET 1:** 149 WATER STREET, SUITE 302
- **CITY:** NORWALK
- **STATE:** CT
- **ZIP:** 06854

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ReneSola Ltd
- **DATE OF NAME CHANGE:** 20071108
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SHAH CAPITAL MANAGEMENT
- **CENTRAL INDEX KEY:** 0001383838

**ORGANIZATION NAME:**
- **EIN:** 201804775
- **STATE OF INCORPORATION:** NC
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** 2301 SUGAR BUSH RD
- **STREET 2:** SUITE 510
- **CITY:** RALEIGH
- **STATE:** NC
- **ZIP:** 27612
- **BUSINESS PHONE:** 919 719 6360

**MAIL ADDRESS:**
- **STREET 1:** 2301 SUGAR BUSH RD
- **STREET 2:** SUITE 510
- **CITY:** RALEIGH
- **STATE:** NC
- **ZIP:** 27612

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 12)**

**Emeren Group Ltd**

*(Name of Issuer)*

**Ordinary Shares, no par value, American Depositary Shares, each representing 10 Ordinary shares, no par value per share**

*(Title of Class of Securities)*

**75971T301**

*(CUSIP Number)*

**Himanshu H. Shah**<br>2301 Sugar Bush Road<br>Suite 510<br>Raleigh NC 27612<br>(919) 719-6360

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**12/12/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **75971T301** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Shah Capital Management** | Name of reporting person<br>**Shah Capital Management** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**NORTH CAROLINA** | Citizenship or place of organization<br>**NORTH CAROLINA** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**0.00** | Aggregate amount beneficially owned by each reporting person<br>**0.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0%** | Percent of class represented by amount in Row (11)<br>**0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IA** | Type of Reporting Person (See Instructions)<br>**IA** | |

---

| **CUSIP No.** | **75971T301** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Shah Capital Opportunity Fund LP** | Name of reporting person<br>**Shah Capital Opportunity Fund LP** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**0.00** | Aggregate amount beneficially owned by each reporting person<br>**0.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0%** | Percent of class represented by amount in Row (11)<br>**0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

| **CUSIP No.** | **75971T301** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Himanshu H. Shah** | Name of reporting person<br>**Himanshu H. Shah** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**0.00** | Aggregate amount beneficially owned by each reporting person<br>**0.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0%** | Percent of class represented by amount in Row (11)<br>**0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Ordinary Shares, no par value, American Depositary Shares, each representing 10 Ordinary shares, no par value per share

**(b) Name of Issuer:**
Emeren Group Ltd

**(c) Address of Issuer's Principal Executive Offices:**
149 WATER STREET, SUITE 302, NORWALK, CT, 06854

This Amendment No. 12 (this "Amendment") to the Schedule 13D filed with the Securities and Exchange Commission (the "SEC") on October 1, 2019 (the "Original Schedule 13D" and, as amended by Amendment No. 1 filed with the SEC on December 28, 2020, Amendment No. 2 filed with the SEC on January 8, 2021, Amendment No. 3 filed with the SEC on July 15, 2022, Amendment No. 4 filed with the SEC on September 16, 2022 , Amendment No. 5 filed with the SEC on January 13, 2023, Amendment No. 6 filed with the SEC on September 25, 2023, Amendment No. 7 filed with the SEC on January 5, 2024, Amendment No. 8 filed with the SEC on March 17, 2025, Amendment No. 9 filed with the SEC on June 20, 2025, Amendment No. 10 filed with the SEC on July 7, 2025, and Amendment No. 11 filed with the SEC on September 3, 2025, the "Schedule 13D") is being filed by Shah Capital Management, Inc. ("Shah Capital"), Shah Capital Opportunity Fund LP ("Shah Opportunity"), and Himanshu H. Shah ("Mr. Shah" and, together with Shah Capital and Shah Opportunity, the "Reporting Persons"), with respect to the ordinary shares, no par value per share (the "Ordinary Shares") and the American Depository Shares, each representing ten Ordinary Shares (the "ADSs") of Emeren Group Ltd (the "Issuer").  Capitalized terms used but not defined in this Amendment have the meanings ascribed to them in the Schedule 13D.

This Amendment amends and supplements the Schedule 13D to describe the closing of the merger pursuant to the Agreement and Plan of Merger by and among the Issuer, Shurya Vitra Ltd., a BVI business company incorporated under the Laws of the British Virgin Islands ("Parent"), and Emeren Holdings Ltd, a BVI business company incorporated under the Laws of the British Virgin Islands and a wholly owned subsidiary of Parent ("Merger Sub"), dated as of June 18, 2025, as amended on September 2, 2025 (the "Merger Agreement").

Other than as set forth below, all Items in the Schedule 13D are materially unchanged.

**Item 4. Purpose of Transaction**

Item 4 is amended to include the following disclosure at the end of the Item:

Closing of the Merger

On December 9, 2025, the Issuer's shareholders approved the Merger and certain related matters.

On December 12, 2025, pursuant to the Merger Agreement, Merger Sub merged with and into the Issuer, with the Issuer surviving such merger as a wholly owned subsidiary of Parent (the "Merger"). At the effective time of the Merger, each then-outstanding equity security of the Issuer was cancelled.  Each then-outstanding:
o ADS and Ordinary Share (other than Excluded Shares (as defined in the Merger Agreement)) automatically converted into the right to receive $2.00 per ADS or $0.20 per Ordinary Share (as applicable, the "Merger Consideration"), less a $0.05 per ADS cancellation fee pursuant to the terms of the deposit agreement and subject to all applicable withholding.o Vested option with an exercise price less than the Merger Consideration converted into the right to receive a cash payment equal to the difference between the Merger Consideration and the exercise price, multiplied by the number of shares subject to such option.o Vested option with an exercise price equal to or greater than the Merger Consideration, unvested option, and unvested restricted share unit award ("RSU") was replaced with an employee incentive award of the surviving company, with terms substantially similar to the original award, which may be settled in cash or property other than shares, as determined by Parent.o Vested RSU converted into the right to receive a cash payment equal to the Merger Consideration.

As a result of the closing of the Merger and the other transactions contemplated by the Merger Agreement, the Reporting Persons no longer beneficially own any Ordinary Shares or ADSs.  The 184,092,490 Ordinary Shares that were Rollover Securities held by Shah Opportunity were exchanged ordinary shares of Parent, and the 3,526,170 Ordinary Shares held by Shah Capital and 563,700 Ordinary Shares held by Mr. Shah were converted into the right to receive the Merger Consideration.

In connection with the closing of the Merger, the Issuer notified the New York Stock Exchange ("NYSE") of its intent to remove the ADSs from listing on the NYSE and requested that NYSE (i) suspend trading of the Ordinary Shares on the NYSE prior to the opening of trading on December 15, 2025 and (ii) file a Notification of Removal of Listing and/or Registration on Form 25 with the SEC to delist and deregister the ADSs under Section 12(b) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The delisting and deregistration under Section 12(b) of the Exchange Act will become effective 10 days after the filing of Form 25. The Issuer intends to file with the SEC a certification and notice on Form 15 with respect to the Ordinary Shares once the delisting and deregistration under Section 12(b) of the Exchange Act becomes effective. The Issuer's reporting obligations under the Exchange Act will be suspended upon the Issuer's filing of the Form 15 with the SEC.

**Item 5. Interest in Securities of the Issuer**

**(a)**
As of December 12, 2025, the Reporting Persons do not beneficially own, directly or indirectly, any Ordinary Shares.

**(b)**
As of December 12, 2025, the Reporting Persons do not have sole or shared power to vote, to direct the vote, to dispose of, or to direct the disposition of any Ordinary Shares.

**(c)**
Except as otherwise described in the Schedule 13D, the Reporting Persons have not effected in any transactions in Ordinary Shares during the past sixty days.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Shah Capital Management

**Signature:** /s/ Himanshu H. Shah

**Name/Title:** Himanshu H. Shah, President and Chief Investment Officer

**Date:** 12/16/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Shah Capital Opportunity Fund LP

**Signature:** /s/ Himanshu H. Shah

**Name/Title:** Himanshu H. Shah, Managing Member

**Date:** 12/16/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Himanshu H. Shah

**Signature:** /s/ Himanshu H. Shah

**Name/Title:** Himanshu H. Shah

**Date:** 12/16/2025