SHANGHAI, Jan. 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 sold its two
solar projects in Holyoke,
Massachusetts (the "Projects") to New York-based C2 Special Situations Group,
LLC, ("C2"), a private investment firm focused on investments in
the distributed generation sector. The Projects have a combined
capacity of approximately 1.3 MWDC and will sell the power
generated to the local utility under a 20-year purchase agreement.
The Projects were completed in Q4 2016 and qualified for the
Massachusetts RPS Solar Carve-Out II Program.
Xianshou Li, Chairman and Chief Executive Officer of ReneSola,
commented: "This agreement extends our track record of developing
and monetizing projects in more attractive developed markets. We
believe the U.S. remains an important market for us due to
attractive project economics, coupled with streamlined
infrastructure for project development. Our project pipeline in the
U.S. is over 100 MW, and we expect the region to be a major source
of revenue growth in the years ahead."
Richard Dovere, Managing Partner
of C2 added: "These systems represent another quality addition to
our firm's growing portfolio of distributed generation assets
throughout the United States. We
enjoyed working with ReneSola on these projects and look forward to
expanding our relationship with their top-tier development
team."
C2 was advised by A. Mark
Getachew of Willkie Farr
& Gallagher LLP, with local counsel support from Pierce Atwood.
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 C2
C2 Special Situations Group, LLC is a private investment firm
based in New York that specializes
in power generation investment opportunities. The C2 team brings
extensive development, construction, operations, acquisition and
financing expertise to its portfolio, with a focus on distributed
generation. Additional information about C2 can be found at
www.c2ssg.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 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.