ReneSola Signs 10 MW Solar Module Sales Agreement with saferay
JIASHAN, China, Oct. 15, 2012
JIASHAN, China, Oct. 15, 2012 /PRNewswire/ -- ReneSola Ltd ("ReneSola") (NYSE:
SOL), a leading global manufacturer of solar photovoltaic ("PV") modules and
wafers, today announced that it has shipped 10 MW of its high-quality solar
modules to saferay GmbH ("saferay"), a leading large-scale PV power plant
installer in Germany.
(Logo: http://photos.prnewswire.com/prnh/20080506/CNTU030 )
Under the terms of the agreement, ReneSola is delivering a total of 10 MW of
its 245 W and 250 W multicrystalline solar modules directly to saferay for use
in a new PV power plant near Schwarzheide in Brandenburg, Germany.
Mr. Xianshou Li, ReneSola's chief executive officer, said, "This contract
illustrates the importance we place on the German market and on raising our
profile in the solar module industry. Our aggressive sales and marketing
efforts have enhanced the brand recognition of our solar module business and
have educated customers regarding the superiority of our solar products. We're
confident that our multicrystalline modules will make a valuable contribution
to saferay's PV power plant and we hope to provide additional modules to
saferay in the future to support their growing network of leading large-scale
PV power plants."
Dr. Thomas Gnefkow, saferay's managing director, commented, "We are pleased to
be using ReneSola's high-quality solar modules in our new PV power plant.
ReneSola's reputation for timely delivery and competitive pricing are key to
maintaining our typically fast construction time and leading cost position. As
we are rapidly expanding our network of some of the world's largest PV power
plants, we will continue to cooperate with ReneSola to provide us with
high-quality solar modules."
Founded in 2005, ReneSola (NYSE:SOL) is a leading global manufacturer of
high-efficiency solar PV modules and wafers. Leveraging its proprietary
technologies, economies of scale and technical expertise, ReneSola uses
in-house virgin polysilicon and a vertically integrated business model to
provide customers with high-quality, cost-competitive products. ReneSola solar
modules have scored top PVUSA Test Conditions (PTC) ratings with high annual
kilowatt-hour output, according to the California Energy Commission (CEC).
ReneSola solar PV modules can be found in projects ranging in size from a few
kilowatts to multi-megawatts in markets around the world, including the United
States, Germany, Italy, Belgium, Greece, Spain, China and Australia. For more
information, please visit http://www.renesola.com/.
Berlin, Germany-based saferay is a leader in the field of efficient and fast
installations of large-scale photovoltaic power plants. Saferay realizes and
finances plants primarily for its own asset base, in order to shape future
energy concepts in the world's leading energy markets. The company's
experience includes over 500 MW of installed PV capacity. For more
information, visit www.saferay.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," "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, please contact:
Mr. Tony Hung
Mr. Derek Mitchell
Ogilvy Financial, Beijing
In the United States:
Ms. Jessica Barist Cohen
Ogilvy Financial, New York
SOURCE ReneSola Ltd.
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