JIASHAN, China, Aug. 1, 2013 /PRNewswire/ -- ReneSola Ltd ("ReneSola" or the "Company") (NYSE: SOL), a leading brand and technology provider of solar photovoltaic ("PV") products, today announced it will provide microinverters, string inverters and mounting products to a new client in Pakistan that specializes in the professional management of thermal and renewable power generation assets in Pakistan, India and Africa.
Pakistan, an emerging market, suffers from energy shortages and relies heavily on load shedding, or scheduled blackouts, to conserve electricity. However, areas of the country also receive among the highest amounts of solar radiation in the world, and thus represent a significant opportunity for solar-related investment. ReneSola already provides locally-produced PV modules to Pakistan's neighbor, India, so the contract reflects the Company's broader penetration into the South Asian solar market.
Mr. Xianshou Li, ReneSola's chief executive officer, said, "We look forward to contributing to Pakistan's developing solar infrastructure. Our microinverters, for instance, can significantly increase the performance of an entire PV system by enabling panels to operate independently, eliminating the 'Christmas light effect' experienced by panels connected in series, when the lowest performing unit determines the performance of the entire series. As with our solar modules, we're confident that our inverters and mounting products will help to raise our corporate profile and drive sales in the emerging markets of South Asia."
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.
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SOURCE ReneSola Ltd.