SHANGHAI, Feb. 6, 2017 /PRNewswire/ -- ReneSola Ltd
("ReneSola" or the "Company") (www.renesola.com) (NYSE: SOL), a
leading fully-integrated solar project developer and provider of
energy-efficient products, today provided an updated outlook for
its solar rooftop project pipeline in China.
As of January 31, 2017, the
Company had over 393 MW of solar rooftop projects in "shovel-ready"
stage. All of the projects have been filed with National
Development and Reform Commission, and the Company has obtained
legal rights to develop these projects. The projects are located in
Zhejiang, Jiangsu, Anhui, Jiangxi, Shandong, Hubei, Henan,
Hebei, Shanxi, Fujian and Guangdong Provinces.
According to China's
13th Five-Year Plan for Development of Power Industry,
the country is targeting an installed capacity of distributed
generation solar power of 60 GW by 2020. China had 10 GW installed capacity of
distributed generation solar power at the end of 2016 according to
National Energy Administration.
Xianshou Li, Chairman and Chief Executive Officer of ReneSola,
commented: "We are more optimistic than ever about our project
development business. Two years ago, we redirected our
business development to focus on utility scale projects in mature
markets. In 2016, we identified the great opportunity in
China's domestic distributed
generation market. Over the last few months, our domestic
distributed generation pipeline has expanded rapidly from 16 MW as
of August 31, 2016 to 393 MW as of
January 31, 2017, demonstrating the
potential of this opportunity. We look forward to growing
this business in the quarters ahead."
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.
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, 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.