ReneSola Announces 600 MW Solar Module OEM Agreement

ReneSola Ltd, a leading global photovoltaic manufacturer of solar wafers and provider of solar module original equipment manufacturer ("OEM") services, announced that it has signed an OEM agreement to provide 600 megawatts ("MW") of solar modules to a major global solar power company over a period of three years.

According to the terms of the contract, ReneSola will provide 200 MW of solar modules annually for three years commencing in 2010.

"Our first major solar module OEM contract reflects the exceptional value inherent in our cost-competitive solar wafer and solar module OEM manufacturing platform," said ReneSola’s Chief Executive Officer Li Xianshou.

"Our customers are increasingly recognizing the benefits of including our cost-effective solar solutions as important components in their production processes. We plan to leverage our module OEM capabilities to significantly strengthen and expand customer relationships with key industry players and further increase our solar wafer sales. We believe this OEM deal underscores our vision to lead the world in solar wafer production."

ReneSola is a leading global manufacturer of solar wafers. Capitalizing on economies of scale, low cost production capabilities and technology innovations, ReneSola leverages its in-house virgin polysilicon and solar cell and module production capabilities to provide its customers with high-quality, cost-competitive solar wafer products and solar module OEM services.

The company possesses a global network of suppliers and customers that include some of the leading global manufacturers of solar cells and modules. ReneSola’s shares are traded on the New York Stock Exchange and the AIM of the London Stock Exchange (AIM: SOLA).