SOLA Renesola

 
TIDMSOLA 
 
ReneSola Signs Letter of Intent with Wuzhong Government to Develop 150 MW 
                          On-grid Solar Power Project 
 
    ReneSola Ltd ("ReneSola" or the "Company") (NYSE: SOL) (AIM: SOLA), a leading 
vertically integrated Chinese manufacturer of solar products, today announced 
it has been granted the exclusive right in a letter of intent with the 
Taiyangshan Development Zone in Wuzhong city, Ningxia Hui Autonomous Region, to 
develop a 150 megawatt ("MW") on-grid solar power project with a budgeted total 
investment of RMB 4.8 billion (approximately US$ 706 million). The project, 
which is subject to a feasibility study and government permits and approvals, 
has a four-year, four-phase construction period that is expected to begin in 
2010. 
 
    (Logo: http://www.newscom.com/cgi-bin/prnh/20080506/CNTU030 ) 
 
    "We are pleased to announce our new 150 MW on-grid solar project in Wuzhong, 
which adds to our track record of partnering with local governments to develop 
sustainable solar projects," said Mr. Xianshou Li, ReneSola's chief executive 
officer. "Our vertically integrated solar manufacturing capabilities continue 
to position us to capture opportunities presented by the government's increased 
focus on establishing alternative energy sources." 
 
    Mr. Li added, "We are excited by China's transformation from a manufacturing 
hub of solar products into an important and increasingly significant end-user 
market. The emergence of downstream projects in the domestic market represents 
a significant opportunity for ReneSola to create new revenue streams and expand 
local market share. The 150 MW on-grid solar project in Wuzhong bolsters our 
downstream project portfolio as we strengthen our position as one of the 
leading vertically integrated solar companies in China. The Ningxia Hui 
Autonomous Region is one of the sunniest regions in China, and this project is 
strategically located to fully take advantage of the abundance of natural 
sunlight in the local area." 
 
    About ReneSola 
 
    ReneSola Ltd ("ReneSola") is a leading Chinese manufacturer of solar products 
based in China. Capitalizing on proprietary technologies and technical 
know-how, ReneSola's vertically integrated manufacturing capabilities include 
virgin polysilicon, monocrystalline and multicrystalline solar wafers, solar 
cells and solar modules. 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 of the London Stock Exchange (AIM: SOLA). For 
more information about ReneSola, please visit http://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 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 annual 
report on Form 20-F. 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: 
     Ms. Julia Xu 
     ReneSola Ltd 
     Tel:   +86-573-8477-3372 
     Email: julia.xu@renesola.com 
 
     Mr. Derek Mitchell 
     Ogilvy Financial, Beijing 
     Tel:   +86-10-8520-6284 
     Email: derek.mitchell@ogilvy.com 
 
    In the United States: 
     Ms. Jessica Barist Cohen 
     Ogilvy Financial, New York 
     Tel:   +1-646-460-9989 
     Email: jessica.cohen@ogilvypr.com 
 
    In the United Kingdom: 
     Mr. Tim Feather / Mr. Richard Baty 
     Hanson Westhouse Limited, London 
     Tel:   +44-20-7601-6100 
     Email: tim.feather@hansonwesthouse.com 
            richard.baty@hansonwesthouse.com 
 
SOURCE  ReneSola Ltd 
 

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