Ohio Developer Flips Switch on Multi-Megawatt Project Powered by ReneSola Modules
First Wave of Solar Planet's School PV Initiative Goes Live
SAN FRANCISCO, Nov. 1, 2012 /PRNewswire/ -- ReneSola Ltd ("ReneSola" or the "Company") (NYSE: SOL), a leading global manufacturer of solar photovoltaic ("PV") modules and wafers, is proud to announce that its customer Solar Planet Power Inc. ("Solar Planet") this month commissioned several ground and rooftop projects composed entirely of ReneSola modules at elementary and high schools in West Jefferson and Blacklick, Ohio. The Company has provided more than 10 MW of solar PV modules to Solar Planet, an Ohio-based developer with contracts to install $200 million in solar projects in more than 20 major school districts, 10 municipalities, many career centers and other facilities, including hospitals, airports and universities.
"Construction on the first round of projects took only 45 days to complete," said Siyd Tawana, president of Solar Planet. "It was truly a pleasure working with ReneSola to secure the company's high-efficiency 250 W and 255 W modules in a timely manner. It has turned into a great partnership. We have high expectations when selecting modules for the projects we currently have contracted in our home state of Ohio. We are planning to expand to states on both coasts and look forward to completing those new projects with ReneSola, our long-term partner, whom we believe offers the best quality, size options and efficiencies in today's solar PV marketplace."
For the full year 2012, ReneSola will deliver 2.2 GW to 2.4 GW of solar PV modules and wafers worldwide. ReneSola's products can be found in numerous projects across the United States, as the Company has been providing wafers to leading module manufacturers for several years. As ReneSola continues to grow its presence globally in the module sector, it expects North and South America to be large contributors to its growth in 2013 and beyond.
"The American markets are still ripe with tremendous growth potential," said Kevin Chen, president of ReneSola America. "With more and more states coming on line and others increasing their renewable portfolio standards, companies with outstanding reputations, such as Solar Planet and ReneSola, will flourish. We look forward to forging more partnerships with other leading developers like Solar Planet to grow the number of high-quality, cost-effective PV projects in North and South America."
Founded in 2005, ReneSola (NYSE: SOL) is a leading global manufacturer of high-efficiency solar PV modules and wafers. Leveraging its proprietary technologies, economies of scale, and technical expertise, ReneSola uses in-house virgin polysilicon and a vertically integrated business model to provide customers with high-quality, cost-competitive products. ReneSola solar modules have scored top PVUSA Test Conditions (PTC) ratings with high annual kilowatt-hour output, according to the California Energy Commission (CEC). ReneSola solar PV modules can be found in projects ranging in size from a few kilowatts to multi-megawatts in markets around the world, including the United States, Germany, Italy, Belgium, China, Greece, Spain, and Australia. For more information, please visit www.ReneSola.com.
Safe Harbor Statement
This press release contains statements that constitute ''forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Whenever you read a statement that is not simply a statement of historical fact (such as when the Company describes what it "believes," "expects" or "anticipates" will occur, what "will" or "could" happen, and other similar statements), you must remember that the Company's expectations may not be correct, even though it believes that they are reasonable. The Company does not guarantee that the forward-looking statements will happen as described or that they will happen at all. Further information regarding risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements is included in the Company's filings with the U.S. Securities and Exchange Commission, including the Company's annual report on Form 20-F. The Company undertakes no obligation, beyond that required by law, to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made, even though the Company's situation may change in the future.
For investor and media inquiries, please contact:
Mr. Tony Hung
Mr. Derek Mitchell
Ogilvy Financial, Beijing
In the United States:
Ms. Jessica Barist Cohen
Ogilvy Financial, New York
SOURCE ReneSola Ltd.