ReneSola Ltd: Providing Modules and Inverters to Vista Solar
San Francisco - ReneSola Ltd ("ReneSola") (NYSE: SOL), a leading brand and technology provider of solar photovoltaic ("PV") products, today announced collaborative projects with Silicon Valley-based solar integrator Vista Solar.
A 315 kW array is being constructed for Therm-X, a thermal solutions company based in California, and will be powered by ReneSola's 305W polycrystalline panels. Two additional systems totaling nearly 50 kW have been constructed for Our Lady of Peace Church and Saint Justin School. Both sites will host solar systems featuring ReneSola's 255W polycrystalline and 255W monocrystalline modules.
In addition, Vista Solar is testing ReneSola's microinverters and string inverters on a demo rooftop project with DCL, a Silicon Valley-based technology manufacturing, fulfillment, and logistics services provider.
"Our number one goal for all of our clients is to design systems that generate the lowest cost per kilowatt hour and the greatest long-term savings without sacrificing quality of craftsmanship," said Jaymes Callinan, vice president of Vista Solar. "After touring ReneSola's factory, carefully reviewing their financials and installing test systems to confirm output projections, we felt confident in partnering with Renesola on these important Silicon Valley installations. Now that the systems are installed, they look beautiful and are performing excellently."
Kevin Chen, president of ReneSola America added, "We are pleased to have been selected to provide our high-efficiency Virtus II polycrystalline modules to these Silicon Valley projects in collaboration with esteemed solar integrator Vista Solar. The sites for the arrays are Silicon Valley landmarks, and we are thrilled that our high-quality solar products will benefit this sizeable community. We hope to secure future projects in the Bay Area through our ongoing relationship with Vista Solar, given the company's dedication to a quality integration process."
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 Vista Solar
Vista Solar is a wholly-owned subsidiary of 25-year silicon distributor, Silicon Valley Microelectronics (SVM), which specializes in commercial PV solar design and installation. Backed by nearly three-decades of silicon and solar-industry experience, nearly 100 solar installations, and +6 megawatts of solar power systems installed across California, Vista Solar has a demonstrated ability to deliver solar solutions that generate dependable energy production and significant long-term financial benefits. For more information, please visit www.vista-solar.com.
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:
Ms. Laura Chen
Mr. Derek Mitchell
Ogilvy Financial, Beijing
In the United States:
Mr. Brian Armentrout
Mr. Justin Knapp
Ogilvy Financial, U.S.