ReneSola's Virtus II PV Modules Installed at Temple University
SAN FRANCISCO, Dec. 12, 2013 /PRNewswire/ -- ReneSola Ltd ("ReneSola") (NYSE: SOL), a leading brand and technology provider of solar photovoltaic ("PV") products, today announced its collaboration with Community Energy, Inc. ("Community Energy"), a Pennsylvania based developer of clean energy projects. ReneSola provided its high-efficiency PV modules to power the 63KW roof-top solar array installed at Temple University in Philadelphia, PA.
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The rooftop system was constructed at Edberg-Olson Hall, Temple University's main football practice facility, and is the first of its kind at a college or university in Philadelphia. The array consists of 268 ReneSola 60-cell high efficiency Virtus II PV modules capable of generating 63KW of photovoltaic power. Power generated by the system is supplied to Community Energy customers.
Mr. Kevin Chen, president of ReneSola America stated, "We are pleased to have partnered with Community Energy and are confident that our products and service will continue to exceed expectations. We are also excited that this opportunity is enabling us to drive growth in the nascent renewable energy sector in Pennsylvania, and expect this project will position us for future growth in the region."
"Long-term reliability is essential to the success of our projects, which is why we choose ReneSola as our module supplier," said Brent Alderfer, president of Community Energy. "We are confident that this project's future revenue streams will lead to a high return on our investment."
Jamie Resor, CEO of groSolar, supplier of technology and equipment to the project said, "We are pleased to have partnered with ReneSola to construct the Temple University solar installation, developed in collaboration with Community Energy. ReneSola lived up to its reputation for providing timely delivery, competitive pricing, and high quality products."
"Temple is proud to contribute to the growth of solar energy in Pennsylvania," said James Creedon, senior vice president of Construction, Facilities and Operations at Temple University. "This partnership with Community Energy enables our university to support the development of renewable energy in our community while avoiding up-front capital costs."
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.
groSolar is a leading large commercial and utility scale solar engineering, procurement, and construction (EPC) firm with megawatt+ projects across the US. groSolar's commercial experience spans a broad spectrum including design and build applications atop brownfields, landfills, water/ waste water treatment plants, and manufacturing facilities. In addition, groSolar offers product procurement and logistics services to approximately 1,500 solar installers and contractors across the nation, whose focus is on small to mid-scale commercial solar applications. Through economies of scale and volume purchasing between groSolar's channels, we offer the best value the North America PV industry has to offer.
About Community Energy
Community Energy leads renewable energy development on behalf of retail electric customers and has for more than a decade, developing some of the first wind generation and moving into solar development at scale as technology improved. Solar projects are now under development in Pennsylvania, New Jersey, New York, Massachusetts, Indiana, Maryland, Virginia and North Carolina as well as Colorado and Arizona. Last year Community Energy built the largest solar project in Pennsylvania at a time when very little solar was getting built in the state, and received the Photovoltaic Projects of Distinction Award at PV America East in 2013. Community Energy continues to lead the industry as the only competitive electric supplier invested in development of new renewable generation. For more information visit www.communityenergyinc.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.
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