ReneSola Sells 34.6 MW Utility Scale Project in the UK

This represents ReneSola's second project sale to Foresight Group.

SHANGHAI, Aug. 28, 2015 -- ReneSola Ltd ("ReneSola" or the "Company") (www.renesola.com) (NYSE: SOL), a leading brand and technology provider of energy-efficient products, today announced that it has sold its 34.6 MW Port Farms utility scale project in the United Kingdom to Foresight Solar Fund Limited ("FSFL"). This represents ReneSola's second project sale to Foresight Group, a leading, independent infrastructure and private equity investment manager, following the sale of its 6.4 MW Field House project in July 2015 to other funds managed by Foresight.


"The development and sale of our 34.6 MW Port Farms project, which was part of our initial pipeline of 71 MW of projects we developed in the UK, extends our collaboration with Foresight and represents another example of our execution capabilities and fruitful transition into the downstream segment of the market," said Mr. Xianshou Li, ReneSola's chief executive officer. "The successful monetization of our project pipeline along with our improving profitability and balance sheet outlook should provide us with the capital resources to support our growth. With more than 42 MW of existing projects in the UK, Japan, and Eastern Europe, and with more than 200 MW of projects in our late-stage development pipeline in the UK, US and Japan, we are confident that we can continue to execute well on our downstream strategy and generate cash flow and profitability well into 2016 and 2017."

The Port Farms project, which utilizes ReneSola's Virtus II modules, was connected to the grid in March 2015 and is qualified for the UK's 1.4 R.O.C scheme.

About ReneSola
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 energy efficient products. Leveraging its global presence and expansive distribution 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. For more information, please visit www.renesola.com.

Featured Product

Darfon G320 Microinverter

Darfon G320 Microinverter

The Darfon G320 is the microinverter solution for today's high-power solar modules. The G320 handles 60- and 72-cell modules up to 350W DC and outputs up to 300W AC. The G320's 3-phase configuration accommodates the electrical distribution systems of most commercial buildings and to reduce, if not eliminate, the need for expensive transformers. The G320 comes in four voltage/phase configurations, so it can be installed in residential, commercial or utility applications.