ReneSola Signs 100 MW Virtus Module Distribution Agreement with BIG SOLAR; Increases Full Year 2012 Shipment Outlook

ReneSola Ltd

today announced it has entered into an exclusive distribution agreement to provide 100 megawatts of the Company's high-efficiency Virtus modules to BIG SOLAR S.A., the biggest Greek stockholder and distributor in the field of photovoltaic systems for electricity production through solar energy. Under the terms of the agreement, ReneSola will ship a total of 100 MW of high-efficiency Virtus modules in the coming 12 months directly to BIG SOLAR. ReneSola also announced that it is revising its full year 2012 shipment guidance and estimates its total solar wafer and module shipments for the first half of 2012 to be close to 1 GW. For full year 2012, the Company estimates its total solar wafer and module shipments will be in the range of 2.2 GW to 2.4 GW, compared to the previously guided range of 1.8 GW to 2.0GW.