ReneSola Awarded 13MW of Solar Projects in Poland's First Electricity Auction

All of these 13 projects are eligible for a guaranteed tariff of PLN 408.8/MWh, which is the highest in the auction. The projects are all expected to be connected to the grid by December 2017. The electricity generated from those projects will be sold to the local utility under a 15-year purchase agreement.

The Energy Regulation Office in Poland held the country's inaugural solar power auction on December 30, 2016. In this first auction for small-scale installations, 76 new solar projects received subsidies, equivalent to about 70MW of capacity.

Xianshou Li, Chairman and Chief Executive Officer of ReneSola, commented: "We are excited to have been awarded the utility projects in Poland as they represent an addition to the Company's diversified portfolio of solar projects across the globe. Our team has the experience and expertise to deliver reliable, cost-competitive distributed power to serve Poland's growing energy demand, and we are proud to have the opportunity to accelerate the country's transition to a robust clean energy economy.  We look forward to leveraging the project win to further support solar deployment in Poland and other emerging markets."

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.

Safe Harbor Statement

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For investor and media inquiries for ReneSola, please contact:

In China:

ReneSola Ltd
Ms. Rebecca Shen
+86 (21) 6280-9180 x106
[email protected]

The Blueshirt Group Asia
Mr. Gary Dvorchak, CFA
+86 (138) 1079-1480
[email protected]

In the United States:

The Blueshirt Group
Mr. Ralph Fong
+1 (415) 489-2195
[email protected]

SOURCE ReneSola Ltd.