ReneSola announces new module distribution agreement and revised full year 2012 shipment outlook

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ReneSola announces new module distribution agreement and revised full year 2012 shipment outlook

Greentech Lead Europe: ReneSola, a manufacturer of solar
wafers and solar modules, will provide 100 MW of its high-efficiency Virtus
modules to BIG SOLAR, the Greek distributor in the field of photovoltaic
systems for electricity production through solar energy. ReneSola will ship in
the coming 12 months directly to BIG SOLAR.

“Our companies have successfully worked together
since the beginning of 2011 and our efforts will be strongly reinforced by this
exclusive agreement. Through BIG SOLAR, ReneSola is poised to become the leader
of the Greek photovoltaic modules market, and we anticipate a long and mutually
beneficial partnership for years to come,” said Ionnnis Bitros, BIG
SOLAR’s president.

ReneSola is revising its full year 2012 shipment guidance
and estimates its total solar wafer and module shipments for the first half of
2012 to be close to 1 GW. For full year 2012, the Company estimates its total
solar wafer and module shipments will be in the range of 2.2 GW to 2.4 GW,
compared to the previously guided range of 1.8 GW to 2.0GW.

“This deal reflects not only our strong position in key
solar markets like Greece, but also our continued push in global sales. In the
first half of 2012, ReneSola delivered 40 MW of our high-efficiency Virtus
modules to Greece, becoming one of the country’s biggest module suppliers. We
are also among the top module suppliers in Australia and Belgium, thanks in
part to the technology development and commercialization of ReneSola’s
high-efficiency Virtus modules, which have an average power generation of
255W,” said Xianshou Li, ReneSola’s chief executive officer.

ReneSola completes its 20 MW solar power plant in Qinghai,
China

Last year, ReneSola completed its first 20 megawatt solar
power plant in Wulan County in Qinghai, China. ReneSola provided all
20 MW of solar modules for the power plant. ReneSola leverages its in-house
virgin polysilicon and solar cell and module production capabilities to provide
its customers with high-quality, cost-competitive solar wafer products and
processing services.

 

[email protected]

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