ReneSola Ltd ("ReneSola") (NYSE: SOL), a leading brand and technology provider of solar photovoltaic ("PV") products, today announced it has been awarded a contract to supply 420MW of solar panels to a leading solar project developer based in Japan. ReneSola's Virtus II 300W 72-cell high-efficiency polycrystalline PV panels will be installed in over ten ground-mounted power plants in the mountain regions of Japan, and will provide power to the surrounding residential homes.
"We have worked with a number of solar panel providers, and are particularly impressed by ReneSola's product quality and value, and excellent customer service. The ReneSola team provided us with in-depth technical knowledge on the durability and reliability of their solar panels," said chief executive officer of the Japanese solar project developer. "We look forward to developing our relationship with ReneSola and partnering with them on future projects in Japan."
Mr. Xianshou Li, chief executive officer of ReneSola said, "We are pleased that this project enables us to grow our presence in Japan, one of our target markets. Our local sales office is supporting our growth amidst the increasing demand for solar products in Japan. ReneSola is committed to producing high-quality cost-competitive products, and we will continue to expand our presence in new markets in the coming years."
ReneSola will begin delivery of shipments for the project in January 2014, and expects to complete delivery by December 2015.
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.