ReneSola Provides Virtus II Modules to Pilot PV Project in Incheon
Marks the Company's first shipment to South Korea
JIASHAN, China, June 24, 2013 /PRNewswire/ -- ReneSola Ltd ("ReneSola" or the "Company") (NYSE: SOL), a leading brand and technology provider of solar photovoltaic ("PV") products, today announced it provided HI CITY COMMUNITY INTEREST COMPANY ("HI CITY CIC"), a South Korean non-profit organization commissioned by the Incheon government to manage local utility property, with 45 kW kilowatts ("kW") of Virtus II 250-watt modules and the Company's mounting system solution for a carport and rooftop pilot PV project in Incheon, South Korea, in May 2013.
According to the terms of the agreement, HI CITY CIC will install ReneSola's mounting system solution along with 40 kW of Virtus II modules on the carport and 5 kW of Virtus II modules on the rooftop of buildings in Incheon. ReneSola expects to deliver additional solar modules to HI CITY CIC for use in additional power systems projects for the Incheon government.
Mr. Xianshou Li, ReneSola's chief executive officer, said, "We are thrilled to have delivered our first solar modules to South Korea, a relatively closed market with high expectations in terms of product quality. The selection of our modules by an organization commissioned by the Incheon government speaks to the quality of our Virtus II modules and mounting system. Virtus II modules are an excellent choice for HI CITY CIC's pilot project, and we look forward to contributing more solar modules as Incheon becomes the headquarters for the United Nations Green Climate Fund."
Founded in 2005, ReneSola (NYSE: SOL) is a leading brand and technology provider of solar PV products. 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. Derek Mitchell
Ogilvy Financial, Beijing
In the United States:
Ms. Jessica Barist Cohen
Ogilvy Financial, New York
SOURCE ReneSola Ltd.
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