ReneSola Signs 44 MW Solar Module Agreement with Enerparc

PR Newswire | 18 Apr, 2013
ReneSola Signs 44 MW Solar Module Agreement with Enerparc JIASHAN, China: ReneSola Ltd ("ReneSola") (NYSE: SOL), a leading global manufacturer of solar photovoltaic ("PV") modules and wafers, today announced it has agreed to provide Enerparc AG ("Enerparc"), an internationally oriented and dynamically growing provider of solar power plant installation and operation services, with 43.6 megawatts ("MW") of solar modules, 35 MW of which will be delivered through original equipment manufacturers ("OEMs") in Poland and India.

"Enerparc places great emphasis on reliability and quality. Their trust in ReneSola reaffirms the value of our solar module business," said Mr. Xianshou Li, ReneSola's chief executive officer. "We're confident our competitively priced, high-efficiency solar modules and excellent delivery track record will help Enerparc achieve its project goals. Furthermore, our strong relationships with a number of OEMs allow us to maximize our international reach while lowering costs. We look forward to working with Enerparc and hope to develop a long-lasting relationship that will facilitate the wider use of renewable energy."

Enerparc is currently No. 6 in the global and No. 1 in the German EPC rankings and proceeds with the construction of PV power plants in Germany and France. "The current market conditions are manageable for companies who are deep in the value chain," mentioned Stefan Mueller, COO of Enerparc. Enerparc operates more than 400 MW as IPP and sees further opportunities in India and the United States.

Under the terms of the agreement, ReneSola and its contracted OEMs will deliver 43.6 MW of solar modules to Enerparc between April and June of this year.

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 www.renesola.com.

About Enerparc

Enerparc AG, headquartered in Hamburg, Germany, is an internationally oriented and dynamically growing company whose management and staff have been successfully furthering the technological and commercial evolution of solar energy for many years. More than 800 megawatts of installed solar power in the leading German market as well as in Europe, the USA and Asia provide testament to our joint experience. With a quick, flexible team of expert photovoltaic specialists and a network of renowned partners in the system installation, expert analysis and safety fields, Enerparc offers all services relating to the installation and profitable operation of solar power plants with an output of 1 MWp and more. For more information, please visit www.enerparc.de.

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.