ReneSola to Provide 12 MW of PV Modules to Japanese Client Silicon Bank
TOKYO, July 11, 2013 /PRNewswire/ -- ReneSola Ltd ("ReneSola") (NYSE: SOL), a leading brand and technology provider of solar photovoltaic ("PV") products, today announced it has agreed to provide Silicon Bank Co., Ltd. ("Silicon Bank"), a Japan-based commodity trading company that focuses on semiconductor parts and materials, with 12 megawatts ("MW") of PV modules.
According to the terms of the agreement, ReneSola will deliver 12 MW of 250W monocrystalline modules to Silicon Bank in August and September of 2013 for a series of rooftop and ground-based projects. ReneSola expects to ship approximately 20 additional MW of PV modules to Silicon Bank in the near future.
Mr. Xianshou Li, ReneSola's chief executive officer, said, "We are pleased to provide Silicon Bank with our high-quality modules. This contract win reflects our steady growth in Japan's solar market, which we expect will become our third largest market after the United States and Europe. We hope to increase our business with Silicon Bank as we deliver high-efficiency PV products and household solutions to Japanese end users and increase our market share across emerging solar markets."
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.