ReneSola Sells 6.4 MW Utility Scale Project in the United Kingdom

Jul 02, 2015, 07:39 ET from ReneSola Ltd.

JIASHAN, China, July 2, 2015 /PRNewswire/ -- ReneSola Ltd ("ReneSola" or the "Company") (NYSE: SOL)(www.renesola.com), a leading brand and technology provider of energy efficient products, today announced that it has sold its 6.4 MW Field House utility scale project in the United Kingdom to funds managed by Foresight Group, a leading, independent infrastructure and private equity investment manager.

"The sale of the Field House project represents another successful example of our strategy to focus on downstream services and projects," said Mr. Xianshou Li, ReneSola's chief executive officer. "With current total existing projects of nearly 90 MW, we expect to monetize our downstream project portfolio while seeking new project opportunities to develop, build and transfer. We look forward to continued collaboration with Foresight Group and other buyer partners."

Ricardo Pineiro, Head of UK Solar at Foresight Group commented: "We are delighted to add this high quality Field House project from ReneSola to our portfolio of UK based solar plants which now number 35 with a generating capacity of over 400MW."

The Field House project, which utilizes ReneSola's Virtus II modules, was connected to the grid in March 2015 and is qualified for the UK's 1.4 R.O.C scheme.

About ReneSola

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 distribution 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.

About Foresight Group

Foresight Group was established in 1984 and today is a leading independent infrastructure and private equity investment manager with GBP 1.5 billion of assets under management. As one of the UK's leading solar infrastructure investment teams Foresight funds currently manage more than GBP 1 billion in 54 separate operating Photovoltaic ("PV") plants in the UK, the USA and southern Europe.  In May 2013 Foresight executed an innovative refinancing of its existing UK solar assets through the issue of a GBP 60m London Stock Exchange listed index-linked Solar Bond. Foresight Group has offices in London, Nottingham, Guernsey, Rome and San Francisco. www.foresightgroup.eu

For investor and media inquiries, please contact:

In China:

Ms. Juliet Yang ReneSola Ltd Tel: +86 (21) 6280-9180 ext. 105 E-mail: ir@renesola.com

Mr. Derek Mitchell Ogilvy Financial, Beijing Tel: +86 (10) 8520-6139 E-mail: sol@ogilvy.com

In the United States:

Ogilvy Financial, U.S. Tel: +1 (646) 867-1888 E-mail: sol@ogilvy.com

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SOURCE ReneSola Ltd.



RELATED LINKS

http://www.renesola.com


http://www.foresightgroup.eu