ReneSola to begin 150MW on-grid solar power project in China

21 August 2009

Chinese solar energy company ReneSola has been granted the right to develop a 150MW on-grid solar power project in the Ningxia Hui Autonomous Region of Wuzhong City.

The project, which will cost a total of approximately $706m, has a four-year, four-phase construction period that is expected to begin next year.

Xianshou Li, ReneSola CEO, said, ‘We are pleased to announce our new 150MW on-grid solar project in Wuzhong, which adds to our track record of partnering with local governments to develop sustainable solar projects. Our vertically integrated solar manufacturing capabilities continue to position us to capture opportunities presented by the government’s increased focus on establishing alternative energy sources.

‘We are excited by China’s transformation from a manufacturing hub of solar products into an important and increasingly significant end-user market. The emergence of downstream projects in the domestic market represents a significant opportunity for ReneSola to create new revenue streams and expand local market share.’

Li added that the new project would boost the company’s downstream project portfolio.

Copyright © 2009 NewNet

Tags: solar

This story was published on Friday, August 21st, 2009 at 10:47 am and is filed under Asia, companies, solar. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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