ReneSola Signs 8 MW Module Sales Agreement with True Value Solar
Company's year-to-date shipments to Australia total 45 MW
JIASHAN, China, Aug. 2, 2012 /PRNewswire-Asia/ -- ReneSola Ltd ("ReneSola" or the "Company") (NYSE: SOL), a leading global manufacturer of solar wafers and solar modules, today announced it has sold 8 MW of its high-quality, high-performance monocrystalline solar modules to True Value Solar, Australia's largest solar specialist and one of the country's leaders in solar photovoltaic ("PV") installations. True Value Solar operates as part of the M+W Group, a global leader in engineering, construction, project management and advanced technology facilities responsible for the planning and construction of 40 solar PV plants around the world.
Under the terms of the agreement, ReneSola will ship a total of 8 MW of its high-quality, high-performance monocrystalline solar modules directly to True Value Solar's distribution sites in Australia by the end of this month.
Mr. Xianshou Li, ReneSola's chief executive officer, said, "This contract reflects the quality of our products as well as our commitment to research and development. Moreover, our business continues to grow in Australia, where our year-to-date shipments now top 45 MW and brand awareness of our products, particularly our Virtus line, continues to improve."
ReneSola is a leading global manufacturer of solar wafers and producer of solar power products based in China. Capitalizing on proprietary technologies, economies of scale, high production quality, and technological innovations and know-how, ReneSola leverages its in-house virgin polysilicon and solar cell and module production capabilities to provide its customers with high-quality, cost-competitive solar wafer products and processing services. The Company possesses a global network of suppliers and customers that includes some of the leading global manufacturers of solar cells and modules. ReneSola's ADSs are traded on The New York Stock Exchange (NYSE: SOL). For more information about ReneSola, please visit http://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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