March 5, 2014
ReneSola Ltd. ("ReneSola") (NYSE: SOL), a leading brand and technology provider of solar photovoltaic ("PV") products, announced it has delivered approximately 45,900 of its high-efficiency modules to the Photovoltaic Plant of Ferrara Aranova project, a 11.7MW ground-mounted solar project in Italy developed by Tozzi Sud S.p.A., an Italian designer, manufacturer, and installer of power plants.
ReneSola modules installed for the project averaged 255W and are insured by PowerGuard, third-party coverage that supplement's the Company's warranties regarding product quality and performance.
"This deal reflects the continued success of our OEM strategy. As these modules were manufactured in the EU by one of our OEM partners, we were able to receive additional feed-in-tariff payments on this sale," said Mr. Xianshou Li, ReneSola's chief executive officer. "Our reputation for producing high-quality reliable modules was central to our ability to win this deal. We look forward to partnering with Tozzi Sud on additional projects in the future."
"Our collaboration with ReneSola has been a success. For us it was crucial to identify an integrated cycle supplier with cutting-edge production in the European Union in order to benefit from available feed in tariffs," said Luca Dallaglio, Tozzi Holding's procurement area manager. "The commercial terms and the technical solutions proposed by ReneSola were crucial, as it allowed the company considerable timing optimization. We also appreciated the panel packaging, the excellent quality-to-price ratio of the modules, along with the high level of professional service."
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.
About Tozzi Sud
Tozzi Sud is an Italian designer, manufacturer, and installer of electric, instrumental, and telecommunication systems. It has developed a reputation for delivering high-quality reliable products and services to both public and private clients across Italy and international markets. The company succeeds in providing clients with customized solutions, and is recognized for its use of effective quality controls to ensure the safety of its designs. For more information, please visit www.tozzisud.com.
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