SHANGHAI, Jan. 23, 2014 – ReneSola Ltd (“ReneSola” or the “Company”) (NYSE: SOL), a leading global manufacturer of solar photovoltaic (“PV”) modules and wafers, today announced the formal launch of ReneSola South Africa (Pty) Ltd. (“ReneSola South Africa”) in Cape Town. The office will be responsible for sales and marketing efforts across Africa and South Africa.
“Increasing our share in markets with strong growth trajectories like South Africa is a core component of our business development strategy, said Mr. Xianshou Li, founder and chief executive officer of ReneSola. “Having on-the-ground sales and marketing support is key to increasing our customer base across the vast Africa market and will allow us to respond to customer requests with greater speed and flexibility as we deepen our understanding of local market conditions.”
“South Africa has shown tremendous potential for utility scale, commercial, and residential solar PV projects,” said Mr. Qasim Abrahams, general manager of ReneSola South Africa. “The solar PV market here has grown tremendously since 2010, sparked by the Renewable Energy Independent Power Producers Program (REIPP) of South Africa’s Department of Energy, which is scheduled to extend to 2016. We see particular marketing opportunities for ReneSola’s solar modules, inverters, and storage solutions, as well as LED lighting. Furthermore, South Africa is an ideal gateway for expanding ReneSola’s business into emerging markets like Ghana, Rwanda, Namibia, Kenya, and others across the continent that are pursuing clean energy solutions to their critical energy needs.”
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.
For investor and media inquiries, please contact:
Ms. Laura Chen
Mr. Derek Mitchell
Ogilvy Financial, Beijing
In the United States:
Mr. Justin Knapp
Ogilvy Financial, U.S.
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