ReneSola Generates 29 Million Kilowatt Hours of Electricity from Distributed Generation Solar Projects in China in Third Quarter
SHANGHAI, Oct. 16, 2017 — ReneSola Ltd (“ReneSola” or the “Company”) (www.renesolapower.com) (NYSE: SOL), a leading fully-integrated solar project developer and operator, today announced that its distributed generation (DG) solar projects in China generated approximately 29 million kilowatt hours of electricity in the third quarter of 2017.
The Company continues to believe the China rooftop solar market is a lucrative opportunity and has aggressively established its presence in that market. ReneSola currently owns over 130 MW of China rooftop projects under development, concentrated in a handful of eastern provinces of China with attractive development environments. The Company anticipates to own 150-200 MW of China’s rooftop projects by the end of 2017.
Xianshou Li, Chairman and Chief Executive Officer of ReneSola, commented, “The significant amount of electricity generated from our DG projects marks another key milestone in our project development efforts in the China rooftop market. We are on track in our goal of developing 150-200 MW of solar rooftop projects in China this year. Our efforts in the China rooftop market enable us to become the only US-listed company levered to the exciting China rooftop opportunity.”
About ReneSola
Founded in 2005, and listed on the New York Stock Exchange in 2008, ReneSola (NYSE: SOL) is an international leading brand of solar project developer and operator. Leveraging its global presence and solid experience in the industry, ReneSola is well positioned to develop green energy projects with attractive return around the world. For more information, please visit www.renesolapower.com.
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the quotations from management in this press release and the Company’s operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in the Company’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Source: ReneSola Ltd.
