Aug 8, 2014
ReneSola Ltd ("ReneSola") (NYSE: SOL), a leading brand and technology provider of solar photovoltaic products, announced ReneSola UK will supply 22 megawatts ("MW") of its high-efficiency polycrystalline Virtus I and Virtus II solar modules for use in two ground-mounted, utility-scale projects in the United Kingdom.
The two projects are a 10.8MW Low Carbon project in Bottom Plain, Dorset and a 15.6MW Cofely GDF Suez project in Bilsham Farm, Arundel. The Bilsham solar farm represents the start of a long-term commitment from the area to supply green energy to the national grid. The site is expected to power up to 3,600 homes with renewable energy and to reduce carbon dioxide emissions by up to 1.65 million tons per year.
ReneSola's Virtus I and II solar PV modules are based on a proprietary polycrystalline technology that features the efficiency and effectiveness of a monocrystalline structure. To maximize efficiency, the solar farms will use both 250W and 255W modules, which were manufactured by ReneSola OEM facilities outside of China.
Ian Glover, general manager of ReneSola UK, said, "ReneSola works tirelessly to improve all the cost efficiencies associated with solar power. We are delighted that our commitment to R&D and quality control in our OEM manufacturing has resulted in being the product of choice for these two major solar developers. It's great to work with Low Carbon again and a real pleasure to bring on a new partnership with GDF Suez, while also doing our part to tackle the issues of climate change and UK energy security. We anticipate high demand for our modules over the next two quarters and have been working with our OEM partners to ensure stock will be available for all EPC contractors rushing to complete projects before anticipated changes in UK solar policy."
Dmitry Van Havere, project manager of Cofely GDF Suez said, "Cofely Solar Technics is proud to be working with ReneSola in building this clean, environmentally friendly solar farm which will contribute towards the UK's renewable energy targets and show how agriculture and power generation can work together to develop farm-friendly solar installations."
John Cole, chief investment officer of Low Carbon, said, "Renewable energy technologies have demonstrated substantial performance improvements and efficiency gains and are now being deployed at significant scale. One of the key aspects of all our investments is ensuring high-quality solar technology is used to maintain our drive for reliable performance and ultimately stable returns for investors. We look forward to working with ReneSola on the Bottom Plain project."
Founded in 2005, and listed on the New York Stock Exchange in 2008, ReneSola (NYSE:SOL) is an international leading brand and technology provider of green energy products. Leveraging its global presence, and expansive OEM and sales network, ReneSola is well positioned to provide its highest quality green energy products and on-time services for EPC, installers, and green energy projects around the world.
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