SHANGHAI, Jan. 24, 2017 /PRNewswire/ -- ReneSola Ltd
("ReneSola") (www.renesola.com) (NYSE: SOL), a leading
fully-integrated solar project developer and provider of
energy-efficient products, today announced that it formed a
strategic partnership with China Resources Leasing Co., Ltd., a
subsidiary of China Resources (Holdings) Co., Ltd ("CR" or "China
Resources Group"), a conglomerate registered in Hong Kong with seven key strategic business
units and over 1,900 business entities.
Under the terms of the partnership agreement, China Resources
Leasing will provide ReneSola with an annual credit facility of no
less than RMB 1 billion for the
Company's solar downstream project development.
Xianshou Li, Chairman and Chief Executive Officer of ReneSola,
commented: "We are excited to partner with China
Resources. The annual credit facility will provide an
important capital infusion enabling us to execute our downstream
project development plan. We believe that getting this
financial commitment from a high profile and successful firm such
as China Resources validates the quality of our project
pipeline. We expect project development to continue to drive
our growth in 2017 and beyond."
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 energy efficient 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 China Resources (Holdings) Co., Ltd.
China Resources (Holdings) Co., Ltd. ("CR" or "China Resources
Group") is a diversified holding company registered in Hong Kong. CR was first established as "Liow
& Co." in Hong Kong in 1938,
and was later restructured and renamed as China Resources Company
in 1948. In 1952, instead of being affiliated to the General Office
of the CPC Central Committee, it came under the Central Trade
Department (now known as the Ministry of Commerce). In 1983, it was
again restructured into China Resources (Holdings) Co., Ltd. In
December 1999, CR was no longer
linked to the Ministry of Foreign Trade and Economic Cooperation,
and came under state management. In 2003, under the direct
supervision of SASAC, it became one of the key state-owned
enterprises. China Resources (Holdings) Co., Ltd's main
business focus is the export of mainland Chinese products
(including energy) to Hong Kong.
Its retail operations are organised under the China Resources
Retail group, and include Chinese Arts & Crafts; it also runs a
number of supermarkets in Hong
Kong, originally under the CRC name, but now rebranded as
Vanguard. It also owns Ng Fung Hong,
the monopoly meat importer into Hong Kong. For more
information, please visit China Resources (Holding) Co. Ltd.'s
website at http://en.crc.com.cn/.
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," "plans,"
"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.
For investor and media inquiries for ReneSola, please
contact:
In China:
ReneSola Ltd
Ms. Rebecca Shen
+86 (21) 6280-9180 x106
ir@renesola.com
The Blueshirt Group Asia
Mr. Gary Dvorchak, CFA
+86 (138) 1079-1480
gary@blueshirtgroup.com
In the United
States:
The Blueshirt Group
Mr. Ralph Fong
+1 (415) 489-2195
ralph@blueshirtgroup.com
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SOURCE ReneSola Ltd.