ReneSola to Provide Made-in-India Solar PV Modules to Indian Market

     ReneSola to Provide Made-in-India Solar PV Modules to Indian Market

PR Newswire

SHANGHAI, Nov. 7, 2012

SHANGHAI, Nov. 7, 2012 /PRNewswire/ -- ReneSola Ltd ("ReneSola" or the
"Company") (NYSE: SOL), a leading global manufacturer of solar photovoltaic
("PV") modules and wafers, today introduced its new Virtus II®
multicrystalline modules to the Indian market at the 6th Renewable Energy
India 2012 Expo, a three-day event held in New Delhi that concludes on
November 9. In addition, ReneSola has started providing locally produced PV
modules to the Indian market and expects to provide 250 MW of India-made PV
modules over a two-year period. The India launch follows the successful
introduction of the Virtus II ® solar modules to the U.S. and Australian
markets.

(Logo: http://photos.prnewswire.com/prnh/20080506/CNTU030 )

ReneSola continues to implement its sales and marketing strategy of
"professionalization, internationalization and localization" in India. Given
the substantial demand for solar panels in India, ReneSola foresees a total
quantity of 250 MW of India-made ReneSola modules over a two-year period. This
is the first time the Company has provided locally produced PV modules outside
of China, emphasizing the importance of the India PV market. The Company will
realize this target through collaborating with local strategic partners in
India. In order to import its world-leading technology to India and take
advantage of India's local management and talent resources, ReneSola is
dedicated to providing localized and customized products and services to the
India market.

"Considering the strong and growing demand the India PV market presents for
electricity, coupled with the government's strong support and generous
subsidies for solar energy, ReneSola considers India to be a key market within
Asia," said Mr. Stephen Huang, APMEA president for ReneSola. "We believe
traditional PV sales and trading platforms cannot satisfy local demand, so we
intend to invest more in India and are determined to establish roots there,
ideally joining forces with the India PV industry to provide customized energy
solutions."

About ReneSola

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/.

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:

In China:

Mr. Tony Hung
ReneSola Ltd
Tel: +86-573-8473-9011
E-mail: ir@renesola.com

Mr. Derek Mitchell
Ogilvy Financial, Beijing
Tel: +86-10-8520-3073
E-mail: sol@ogilvy.com

In the United States:

Ms. Jessica Barist Cohen
Ogilvy Financial, New York
Tel: +1-646-460-9989
Email: sol@ogilvy.com

SOURCE ReneSola Ltd.

Website: http://www.renesola.com
 
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