Update on Polysilicon JV
January 23 2008 - 2:27AM
UK Regulatory
RENESOLA LTD
COMMENCEMENT OF TRIAL PRODUCTION OF POLYSILICON
Renesola Ltd ("ReneSola" or the "Company") (AIM: SOLA), a leading manufacturer
of silicon wafers for the photovoltaic industry, is pleased to announce the
commencement of trial production of polysilicon by its joint venture at Henan
Province, China.
In August 2007, ReneSola invested in Linzhou Zhongsheng Semiconductor Silicon
Material Co., Ltd., a new polysilicon manufacturing joint venture located in
Henan Province, China. The Company is pleased to announce that the joint
venture has now commenced trial production of polysilicon. The estimated output
of the joint venture is 200 tonnes to 300 tonnes in 2008.
ReneSola holds a 49% interest in the joint venture company, which is a
consolidated entity of the Company.
Mr. Xian Shou Li, Chief Executive Officer of ReneSola, said: "The commencement
of trial production by the joint venture is a key milestone achieved in our
polysilicon procurement strategy. The output from the joint venture will
enhance our feedstock sufficiency and help to reduce raw material costs at a
time when costs remain high as a result of the industry-wide shortage of
polysilicon. We believe that the experience gained from this joint venture will
provide us with a solid foundation for the development of a further polysilicon
manufacturing plant in Sichuan Province, China, with a projected annualised
capacity of 1,500 tonnes by the end of 2009."
For further information, please contact:
In China:
Charles Bai, CFO
ReneSola Ltd
Tel: +86 573 8477 3061
Email: charles.bai@renesola.com
In the UK:
Tim Feather/Richard Baty
Hanson Westhouse Limited
Tel: +44 113 246 2610
Email: tim.feather@hansonwesthouse.com
Charles Ryland/Suzanne Brocks/Catherine Breen
Buchanan Communications
Tel: +44 20 7466 5000
END
Renesola (LSE:SOLA)
Historical Stock Chart
From Jun 2024 to Jul 2024
Renesola (LSE:SOLA)
Historical Stock Chart
From Jul 2023 to Jul 2024