Renesola Awarded Contract for Saudi Power Plant
ReneSola (NYSE: SOL) has announced that it will be showcasing its latest solar energy-based solutions at this year's World Future Energy Summit (WFES), which starts at the Abu Dhabi National Exhibition Centre on Tuesday 15 January 2013.
ReneSola's participation at WFES 2013 comes at a time when the company has been awarded its first contract in the Middle East, by Taibah University in Medina, Makkah Province, Saudi Arabia, to provide 15 kilowatts of solar modules to be used in an off-grid power plant project to test off-grid solutions.
The company's solar modules are expected to arrive in the holy city of Medina, Makkah Province, early this year and will be used to charge the plant's battery.
Commenting on the contract win, Mr. Xianshou Li, founder and chief executive officer of ReneSola said, "An off-grid solution, particularly one with PV modules powering an energy storage system, can be far more cost-effective than delivering electricity to a small area by conventional means.
"At the same time, a PV solution