JIASHAN, China, Jan. 27, 2014 /PRNewswire/ -- ReneSola Ltd. ("ReneSola" or the "Company") (NYSE: SOL), a leading brand and technology provider of solar photovoltaic ("PV") products, today announced an agreement to provide Isolux Corsan, a global benchmark in the areas of concessions, energy, construction and industrial services and a leader in engineering, procurement and construction ("EPC") projects for solar PV plants, with 57 megawatts ("MW") of Virtus PV modules for installation in three commercial PV projects in the United Kingdom.
According to the terms of the agreement, ReneSola will deliver 57 MW of Virtus PV modules with an average power output of 250 W. The modules will be installed at projects in Cornwall, Dorset, and Norfolk in the United Kingdom. ReneSola began delivery in December 2013 and the three projects are expected to connect to the grid in March of this year.
"We are proud to deepen our relationship with Isolux Corsan, a leading EPC with stringent requirements for its partners," said Mr. Xianshou Li, ReneSola's chief executive officer. "This collaboration follows our successful partnership with Isolux Corsan regarding another UK solar project at the end of last year, and will help us solidify our local market share while building long-term relationships with leaders across the solar industry. The modules for these projects will be manufactured by OEMs in Poland and India, which follows our strategy of increasing use of OEMs in select 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.
About Isolux Corsan
Isolux Corsan is a global benchmark in energy, concessions, construction and maintenance of major infrastructure and operates in over 40 countries on four continents. The construction of transport, railway, airport, maritime, and hydraulic infrastructure and residential and non-residential buildings are the main growth drivers of the company. In the energy sector, Isolux Corsan is one of the leading operators in the world in energy T&D installation and maintenance, one of the largest builders of EPC projects in the solar photovoltaic industry, and occupies an important position among large builders of power plants under EPC contracts. In addition, the Group manages more than 23,500 parking spaces under concession in Spain.
Isolux Corsan manages, through its subsidiary Isolux Infrastructure, concessions for 6,047 km of transmission lines in Brazil, India and the U.S., 1,610 km of highways in India, Brazil, Mexico and Spain and promotes and manages 284.5 MWp of solar PV power plants in Spain, the U.S., India, Italy, Peru and Puerto Rico.
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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SOURCE ReneSola Ltd.