ReneSola Announces Sale of Solar Project in Japan

SHANGHAI, Aug. 26, 2016 /PRNewswire/ -- ReneSola Ltd ("ReneSola" or the "Company") (www.renesola.com) SOL, a leading solar PV project developer and provider of energy-efficient products, today announced that it sold a 1.23 MW solar power project located in Ibaraki, Japan. The project qualifies for Japan's 32 Yen feed-in tariff.  Revenue from the sale will be recognized in the third quarter and all proceeds have been collected.

ReneSola is developing 31.5 MW of solar PV projects in Japan. Including the Ibaraki project, 29.6 MW are in late stage development and expected to be monetized in the quarters ahead.

About ReneSola

Founded in 2005, and listed on the New York Stock Exchange in 2008, ReneSola SOL is an international leading brand and technology provider of energy efficient products. Leveraging its global presence and expansive distribution and sales network, ReneSola is well positioned to provide its highest quality green energy products and on-time services for EPC, installers, and green energy projects around the world. For more information, please visit www.renesola.com.

For investor and media inquiries, please contact:

In China:

ReneSola Ltd
Ms. Rebecca Shen
+86 (21) 6280-9180 x106
ir@renesola.com

The Blueshirt Group Asia
Mr. Gary Dvorchak, CFA
+86 (138) 1079-1480
gary@blueshirtgroup.com

In the United States:

The Blueshirt Group 
Mr. Ralph Fong
+1 (415) 489-2195
ralph@blueshirtgroup.com

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SOURCE ReneSola Ltd.