ReneSola PV Module Installations Top 100 MW in Greece
JIASHAN, China, Feb. 20, 2013 /PRNewswire/ -- ReneSola Ltd ("ReneSola" or the "Company") (NYSE: SOL), a leading global manufacturer of solar photovoltaic ("PV") modules and wafers, today announced that a total of more than 100 MW of the Company's PV modules have been distributed, installed, and connected to the grid in Greece since November of 2011.
The achievement is primarily the result of the Company's strategic partnership with BIG SOLAR S.A. ("BIGSOLAR"), the biggest Greek stock-holder and distributor in the field of PV systems for electricity production through solar energy. BIGSOLAR has served as ReneSola's exclusive distributor for Greece and Cyprus since July of 2012 and will exhibit ReneSola's PV modules at the Solarex Solar and PV Technologies Exhibition in Istanbul in April of this year.
The 100 MW of installations include a range of ground-based and rooftop systems, most notably five high-performing BIGSOLAR projects totaling 8.65 MW, which include a 1.95 MW project near Athens that is the largest rooftop installation in Greece.
Mr. Xianshou Li, ReneSola's chief executive officer, commented, "Greece, as a key solar market, has always been an important focus of our international marketing efforts and we are proud to have reached this milestone with the help of our local partner, BIGSOLAR. We expect this collaboration will support not only our efforts in the Greek market, but also in regional markets, where consumers have begun to recognize the high efficiency and high power output of our modules."
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.
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