ReneSola Provides Lightsource Renewable Energy With 69.5 MW Of Solar Modules
300,000 ReneSola Modules Expected to Power over 23,000 UK Households
Jiashan, China /PRNewswire/ -- ReneSola Ltd ("ReneSola") (NYSE: SOL), a leading brand and technology provider of solar photovoltaic ("PV") products, today announced it has signed a series of agreements to provide Lightsource Renewable Energy Limited ("Lightsource"), the largest solar energy generator in the United Kingdom, with 69.5 megawatts ("MW") of solar modules for installation on solar farms in the United Kingdom. Once installed, the modules are expected to generate enough clean electricity to power more than 23,000 U.K. households.
Mr. Xianshou Li, ReneSola's chief executive officer, said, "We have been working with Lightsource for almost three years now, highlighted by this year's significantly large order of modules. We are confident that our high-efficiency modules will enable Lightsource solar farms to operate at peak performance. The quality of our glass allows our modules to reach relatively high electricity production levels, particularly with regard to diffused light, which is characteristic of the cloudy and overcast conditions often seen in the U.K. With our local presence, particularly during what was a time of regulatory uncertainty, we were able to mobilise up to 15 MWp of delivery per week to our U.K. customers, which underscores the value of our global network of local offices."
Ms. Kareen Boutonnat, Lightsource's managing director, said, "We are the largest consumer of Tier 1, bankable Chinese solar PV modules in the U.K. Our solar farms need to perform to the highest standards and we recognise that China is a global leader in the production of the most efficient modules. The scale of investment into facilities, research and carbon reductions by China is currently unrivalled. Such growth and investment into the British PV module manufacturing industry remains to be seen. We are pleased with the quality of ReneSola's solar modules and with the company's proactive support during the period of anti-dumping uncertainty. We are confident their modules will benefit our operations and hope to establish a long-lasting relationship that will help grow the U.K. solar market further."
Founded in 2005, ReneSola (NYSE: SOL) is a leading brand and technology provider of solar PV products. 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 Lightsource Renewable Energy
Lightsource Renewable Energy is the U.K.'s largest solar energy generator currently operating the largest fleet of solar plants in the U.K. Our recent calculations show that we operate 1 out of every 8 solar PV panels in the U.K.
Our vision is to become a utility scale operator of renewable generating assets selling energy into the market and operating and maintaining a fleet of utility scale power stations generating clean, sustainable electricity.
Our core activities are the development, design, construction, financing, operation and maintenance of solar PV projects and we have a team of professionals in each discipline who manage these activities from initial design and planning through to technical maintenance services. In total, Lightsource employs over 150 full time professionals across these areas of activity.
In the three years since Lightsource was formed, we have delivered over 300MW of solar PV projects, investing over £0.5bn in the process. Based on published information, we estimate that over one third of solar farms in the U.K. are Lightsource operated projects.
For more information about Lightsource Renewable Energy visit www.lightsource-re.co.uk.
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.
SOURCE: ReneSola Ltd.Copyright 2013 PR Newswire. All Rights Reserved