SHANGHAI, Sept. 5, 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 signed an
agreement to sell a portfolio of its ground-mounted projects
located in North Carolina,
United States to a subsidiary of
Panda Green Energy Group Limited, a leading investor and operator
focusing on renewable energy sector ("Panda Green Energy", formerly
known as "United Photovoltaics Group Limited").
Powered by ReneSola's Virtus II 320W and 325W modules, the
ground-mounted projects have an aggregate capacity of approximately
24MW and will sell the power generated to a local utility under a
15-year power purchase agreement. The projects are expected to
be connected to the grid by December
2017.
Xianshou Li, Chairman and Chief Executive Officer of ReneSola,
commented: "This agreement further demonstrates our capability of
developing and monetizing projects in the downstream segment of the
solar industry. The U.S. remains a key market for us; our project
pipeline in the U.S. consists of over 100MW of mid-to-late stage
projects, and we continue to expect the region to be a major growth
market in the years ahead."
About ReneSola
Founded in 2005, and listed on the New York Stock Exchange in
2008, ReneSola (NYSE: SOL) is an international leading brand of
solar project developer 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 Panda Green Energy Group Limited
Panda Green Energy Group Limited (00686.HK), formerly known as
United Photovoltaics Group Limited, is a leading investor and
operator focusing on renewable energy sector and headquartered in
Hong Kong. The Panda Green
Energy's renewable energy projects are located throughout
the People's Republic of China and
some overseas regions, including Inner Mongolia, Qinghai, Ningxia, Shanxi, Hubei, Xinjiang, Gansu, Yunnan, Shandong, Jiangsu, Hebei, Guangdong, Tibet and the UK.
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.