SOLA Renesola

    ReneSola Secures Additional Credit Lines from Two of China's Largest Banks;  
           Company Provides Production Capacity Updates and Upgrades           
                          Third Quarter 2008 Guidance                          

JIASHAN, China, Nov. 3 /Xinhua-PRNewswire-FirstCall/ -- ReneSola Ltd
("ReneSola" or the "Company") (NYSE: SOL) (AIM: SOLA.L), a leading Chinese
manufacturer of solar wafers, today announced that its principal operating
subsidiary Zhejiang Yuhui Solar Energy Source Co. Ltd. ("Zhejiang Yuhui") has
secured additional banking facilities with two of China's largest banks:
Industrial and Commercial Bank of China and Agricultural Bank of China (the
"Banks").

(Logo: http://www.newscom.com/cgi-bin/prnh/20080506/CNTU030 )

The Banks have agreed to provide Zhejiang Yuhui with additional credit lines of
an aggregate of RMB1.06 billion. Under the new and existing credit facilities,
Zhejiang Yuhui has credit lines of approximately RMB2.8 billion in aggregate.

Capacity Expansion Update

ReneSola also announced that it has recently completed and commissioned 90 MW
of multicrystalline ingot and wafer capacity and 35 MW of monocrystalline ingot
and wafer capacity on schedule, bringing the Company's annualized
monocrystalline ingot and wafer production capacity to 325 MW and annualized
multicrystalline ingot and wafer production capacity to 250 MW. With the
delivery of an additional 70 MW of multicrystalline furnaces expected during
the fourth quarter, the Company expects to achieve its capacity expansion
target of 645 MW in annualized ingot production capacity and 585 MW in
annualized wafer production capacity by the end of 2008.

Third Quarter Outlook

ReneSola estimates revenues for the third quarter of 2008 to be in the range of
$210 million to $220 million and production output of between 100 MW to 103 MW.
This compares to the Company's previously issued production output guidance for
the quarter in the range of 90 MW to 95 MW. ReneSola will release its third
quarter earnings results and management will conduct a conference call before
the U.S. market opens on Tuesday, November 18, 2008.

"The recent increase in our ingot and wafer production capacity, together with
the additional capacity scheduled for installation during the rest of the year,
will ensure that we achieve our targeted capacity for 2008," said Mr. Xianshou
Li, ReneSola's chief executive officer. "While our capacity expansion for 2008
is fully financed and our cash position remains healthy, the additional credit
lines committed to us by two leading Chinese banks demonstrate their strong
recognition and confidence in ReneSola notwithstanding the current volatility
of the financial markets."

About ReneSola

ReneSola Ltd ("ReneSola") is a leading global manufacturer of solar wafers
based in China. Capitalizing on proprietary technologies and technical
know-how, ReneSola manufactures monocrystalline and multicrystalline solar
wafers. In addition, ReneSola strives to enhance its competitiveness through
upstream integration into virgin polysilicon manufacturing. ReneSola possesses
a global network of suppliers and customers that include some of the leading
global manufacturers of solar cells and modules. ReneSola's shares are
currently traded on the New York Stock Exchange (NYSE: SOL) and the AIM market
of the London Stock Exchange (AIM: SOLA). For more information about ReneSola,
please visit http://www.renesola.com .

Safe Harbor Statement

This press release may contain 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 we describe what we "believe," "expect" or "anticipate" will
occur, what "will" or "could" happen, and other similar statements), you must
remember that our expectations may not be correct, even though we believe that
they are reasonable. We do 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 our
filings with the U.S. Securities and Exchange Commission, including our
registration statement on Form F-1. We undertake 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 our
situation may change in the future.

For investor and media inquiries, please contact:

In China:

Mr. Charles Bai
ReneSola Ltd
Tel:   +86-573-8477-3061
Email: charles.bai@renesola.com

Mr. Derek Mitchell
Ogilvy Financial, Beijing
Tel:   +86-10-8520-6284
Email: derek.mitchell@ogilvy.com

In the United States:
Mr. Thomas Smith
Ogilvy Financial, New York
Tel:   +1-212-880-5269
Email: thomas.smith@ogilvypr.com

In the United Kingdom:
Mr. Tim Feather / Mr. Richard Baty
Hanson Westhouse Limited, London
Tel:   +44-207-601-6100
Email: tim.feather@hansonwesthouse.com / richard.baty@hansonwesthouse.com

SOURCE ReneSola Ltd



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