ReneSola Sells 34.6 MW Utility Scale Project in UK to Foresight Solar Fund Limited

ReneSola Ltd

today announced that it has sold its 34.6 MW Port Farms utility scale project in the United Kingdom to Foresight Solar Fund Limited ("FSFL"). This represents ReneSola's second project sale to Foresight Group, a leading, independent infrastructure and private equity investment manager, following the sale of its 6.4 MW Field House project in July 2015 to other funds managed by Foresight. "The development and sale of our 34.6 MW Port Farms project, which was part of our initial pipeline of 71 MW of projects we developed in the UK, extends our collaboration with Foresight and represents another example of our execution capabilities and fruitful transition into the downstream segment of the market," said Mr. Xianshou Li, ReneSola's chief executive officer. "The successful monetization of our project pipeline along with our improving profitability and balance sheet outlook should provide us with the capital resources to support our growth. With more than 42 MW of existing projects in the UK, Japan, and Eastern Europe, and with more than 200 MW of projects in our late-stage development pipeline in the