ReneSola Establishes Japanese Subsidiary
ReneSola (NYSE: SOL) announced Monday the Company established a Japanese subsidiary, ReneSola Japan Ltd., in October 2012 to drive sales and business development in Japan. In addition, the Company has applied for its products to be listed by the Japan Photovoltaic Expansion Center ("JPEC") for eligibility to receive installation subsidies from the Japanese government.
JPEC listing is considered the biggest hurdle for a foreign company to enter Japan's residential solar market. In addition to eligibility for Japanese solar subsidies, JPEC-listed products give customers the confidence that the products meet Japan's high-quality standards and safety requirements and are fully compatible with the country's electric grid. In order to obtain JPEC listing, ReneSola has partnered with local suppliers to provide a PV home kit solution that includes 125-square and 156-square monocrystalline modules with an inverter, monitor and racking system to the Japan market. The Company expects these products to be JPEC-listed in March 2013. JPEC listing is expected for additional ReneSola products, including the Company's 250 W poly module, in the near future.
ReneSola will introduce