ReneSola to Report Third Quarter 2012 Results on November 30, 2012

      ReneSola to Report Third Quarter 2012 Results on November 30, 2012

Company Updates Third Quarter and Full Year 2012 Outlook

PR Newswire

JIASHAN, China, Nov. 21, 2012

JIASHAN, China, Nov. 21, 2012 /PRNewswire/ --ReneSola Ltd ("ReneSola" or the
"Company") (NYSE: SOL), a leading global manufacturer of solar photovoltaic
("PV")modules and wafers, today announced that it will report its unaudited
financial results for the third quarter ended September 30, 2012 before the
U.S. markets open on Friday, November 30, 2012.


Based on preliminary data, the Company provides the following updates to its

  oFor the third quarter of 2012, the Company estimates its total solar wafer
    and module shipments to be in its previously guided range of 510 MW to 530
    MW, solar module shipments to be slightly below its previously guided
    range of 150 MW to 170 MW and revenues to be in its previously guided
    range of US$200 million to US$220 million.
  oFor the full year of 2012, the Company estimates its total solar wafer and
    module shipments to be close to 2.2 GW, compared to the Company's
    previously guided range of 2.2 GW to 2.4 GW. The Company expects its solar
    module shipments to increase in the fourth quarter of 2012.
  oThe Company expects its gross profit margin for the third quarter of 2012
    to be in the range of negative 17.5% to negative 18.5% after an inventory
    write-down of approximately US$31.6 million to reflect current selling

"Although the challenging market conditions have affected our third quarter
results, we have successfully transformed into a large-scale solar module
supplier over the past year," said Mr. Xianshou Li, ReneSola's chief executive
officer. "Our module business has performed well in Europe and Australia,
while at the same time capitalized on emerging opportunities in the United
States and China. In the fourth quarter, we expect to increase our module
shipments significantly and are confident our gross margin will turn positive
as we executive on our strategy to become a leading module supplier."

ReneSola's management will host an earnings conference call on Friday,
November 30, 2012 at 8 am U.S. Eastern Time (9 pm Beijing/Hong Kong time).

Dial-in details for the earnings conference call are as follows:

U.S. / International: +1-718-354-1231
Hong Kong:            +852-2475-0994

Please dial in 10 minutes before the call is scheduled to begin and provide
the passcode to join the call. The passcode is "ReneSola Call".

A replay of the conference call may be accessed by phone at the following
number until December 7, 2012:

International: +1-646-254-3697
Passcode:      73036035

Additionally, a live and archived webcast of the conference call will be
available on the Investor Relations section of ReneSola's website at

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, China, Greece, Spain and Australia. For more
information, please visit

For investor and media inquiries, please contact:

In China:

Mr. Tony Hung
ReneSola Investor Relations
Tel:  +86-573-8473-9011

Mr. Derek Mitchell
Ogilvy Financial, Beijing
Tel: +86-10-8520-3073

In the United States:

Ms. Jessica Barist Cohen
Ogilvy Financial, New York
Tel:  +1-646-460-9989

SOURCE ReneSola Ltd.

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