ReneSola to Supply U.S. Utility-Scale PV Project with Non-Taiwanese Cells and Non-Chinese Modules By Leveraging Its Global OEM Capacity ReneSola to Supply 6MWof PV Modules for Ground-Mounted Project
SAN FRANCISCO, June 4, 2014 ReneSola Ltd. ("ReneSola") (www.renesola.com) (NYSE: SOL), a leading brand and technology provider of solar photovoltaic ("PV") products, announced today that it has finalized an order to deliver nearly 20,000 of its high efficiency Virtus II PV modules to GeoPeak Energy, a leading solar developer and EPC. The order will be the first of its kind for ReneSola America, as the non-Chinese modules are being manufactured by the Company's OEM factory using non-Taiwanese cells.
"ReneSola has been a strong player in the North American PV market over the past three years," said Kevin Chen, president of ReneSola America. "This order exemplifies ReneSola's commitment to the U.S. market and our ability to adjust quickly to changing market dynamics through our OEM strategy. With the recent announcement of preliminary tariffs on modules imported from China to the United States, we are able to take an early initiative to keep our prices competitive by leveraging our global OEM network. We believe this approach is pivotal, and will be a key differentiator between ReneSola and our competitors."
"We chose ReneSola as our strategic partner to supply photovoltaic modules built in their state-of-the-art facility because of their specialized anti-reflective coating that maximizes clean energy production," said AJ Javan, partner of GeoPeak Energy. "Kevin and his team have worked closely with ours to ensure an on-time delivery of modules for this 6 megawatt utility scale solar power plant. The solar energy generated will be supplied directly to the manufacturing site as part of our customer's sustainable operations plan."
Delivery is scheduled to begin in August and the modules will be used as part of a ground-mounted solar project for a manufacturing facility in New Jersey. The project will consist of a mix of ReneSola's 295 and 300 watt, 600 volt Virtus II high-efficiency polysilicon PV modules. Project construction is expected to be completed early in the fourth quarter.
About GeoPeak Energy
GeoPeak Energy is a global solar energy and sustainability solutions provider for multinational organizations that have made sustainability part of their operating philosophy.
GeoPeak specializes in design, engineering, project finance, and construction of solar energy systems for businesses that are seeking immediate results for their sustainability goals through the reduction of CO2 emissions. GeoPeak has received numerous industry recognitions for achievements, market leadership and unique product and service offerings, including Private Company of the Year. Previous winners of this award include Prudential Insurance Company, Becton Dickinson and Company, and Vonage.
Founded in 2005, and listed on the New York Stock Exchange in 2008, ReneSola (NYSE: SOL) is an international leading brand and technology provider of green energy products. Leveraging its global presence, and expansive OEM and sales network, ReneSola is well positioned to provide its highest quality green energy products and on-time services for EPC, installers, and green energy projects around the world. For more information, please visit www.renesola.com.
For investor and media inquiries, please contact:
Ms. Laura Chen
Mr. Derek Mitchell
Ogilvy Financial, Beijing
In the United States:
Mr. Brian Armentrout
Mr. Justin Knapp
Ogilvy Financial, U.S.
SOURCE ReneSola Ltd.