ReneSola Announces Sale of Two Projects in Japan

Dec 17, 2015, 06:30 ET from ReneSola Ltd.

SHANGHAI, Dec. 17, 2015 /PRNewswire/ -- ReneSola Ltd ("ReneSola" or the "Company") (www.renesola.com) (NYSE: SOL), a leading brand and technology provider of energy-efficient products, today announced that it has sold two projects in Japan. The projects, located in Tochigi Prefecture, are utility scale systems with capacity of 920 kW and 590 kW, respectively, and both are qualified for Japan's 32 Yen FiT scheme. The transaction was closed this week and the Company has received all proceeds from the sale.

"The sale of the Tochigi projects extends our track record of rapidly developing and monetizing projects in attractive developed markets," said Mr. Xianshou Li, ReneSola's chief executive officer.  "Japan is one of our focus markets, due to attractive project economics driven by their FiT regime, combined with streamlined development infrastructure. Our project pipeline there is 31 MW, so we expect the region to be a strong source of revenue growth in the years ahead."

About ReneSola

Founded in 2005, and listed on the New York Stock Exchange in 2008, ReneSola (NYSE: 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

SOURCE ReneSola Ltd.