SHANGHAI, Jan. 3, 2017 /PRNewswire/ -- ReneSola Ltd
("ReneSola" or the "Company") (www.renesola.com) (NYSE: SOL), a
leading fully-integrated solar project developer and provider of
energy-efficient products, today announced that it signed a
framework agreement with a wholly owned subsidiary of Beijing
Enterprises Clean Energy Group Limited (HKEX: 1250) ("Beijing
Enterprises Clean Energy"), a Beijing-based, Hong
Kong-listed company that engages in the photovoltaic
development business, to develop 335 MW of rooftop solar projects
in China located in Hebei, Shandong, Fujian, Shanxi and Jiangsu Provinces.
Under the terms of the framework agreement, ReneSola will be
responsible for the engineering, procurement and construction of
the projects, while Beijing Enterprises Clean Energy will provide
financing for the projects during construction. Upon
completion, ReneSola will sell the projects to Beijing Enterprises
Clean Energy Group. The projects are anticipated to be
completed by June 30, 2017.
Xianshou Li, Chairman and Chief Executive Officer of ReneSola,
commented, "This agreement confirms our belief that rooftop solar
distributed generation projects will be promising in China. We entered the China distributed generation market a few
months ago and have made impressive progress as we continue to
develop more distributed generation pipelines. This new business
opportunity together with our successful utility scale project
development business will contribute meaningfully to our
profitability in the year ahead. Distributed generation project
development fits into our long-term strategy to drive profitable
growth by shifting our efforts towards project development and LED
distribution business."
About ReneSola
Founded in 2005, and listed on the New York Stock Exchange in
2008, ReneSola (NYSE: SOL) is an international leading brand and
technology provider of energy efficient products. Leveraging its
global presence and expansive distribution and sales network,
ReneSola is well positioned to provide its highest quality green
energy products and on-time services for EPC, installers, and green
energy projects around the world. For more information, please
visit www.renesola.com.
About Beijing Enterprises Clean Energy
Beijing Enterprises Clean Energy was incorporated in
Cayman Islands with limited
liability and shares of which are listed on the main board of The
Stock Exchange of Hong Kong Limited, stock code: 1250. The single
largest controlling shareholder of Beijing Enterprises Clean Energy
is Beijing Enterprises Water Group Limited (a company listed on the
main board of The Stock Exchange of Hong Kong Limited, stock code:
371). Beijing Enterprises Clean Energy has positioned itself
strategically as a leading corporate in China and abroad on electricity generation and
sales of photovoltaic power, specializing in photovoltaic power
business as its core focus and other clean energy businesses as its
supplementary businesses. Beijing Enterprises Clean Energy's
businesses comprise development, acquisition, construction and
operation of grid-connected and ground-mounted photovoltaic power
plants, distributed photovoltaic power plants and micro-grid and
off-grid energy storages. Meanwhile, Beijing Enterprises Clean
Energy actively researches opportunities to venture into other
clean energy areas such as wind power, hydropower and geothermal
energy. For more information, please visit Beijing Enterprises
Clean Energy's website at: http://www.bece.com.hk
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," "plans,"
"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:
ReneSola Ltd
Ms. Rebecca Shen
+86 (21) 6280-9180 x106
ir@renesola.com
The Blueshirt Group Asia
Mr. Gary Dvorchak, CFA
+86 (138) 1079-1480
gary@blueshirtgroup.com
In the United
States:
The Blueshirt Group
Mr. Ralph Fong
+1 (415) 489-2195
ralph@blueshirtgroup.com
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SOURCE ReneSola Ltd.