ReneSola Secures Project Financing for Distributed Generation Projects in China

ReneSola has secured an RMB120 million (US$18 million) financing facility from China Kangfu International Leasing Co., Ltd (“China Kangfu”), an affiliate of State Power Investment Corporation (SPIC).

The financing will be used to support the development of ReneSola’s 30 MW of solar distributed generation projects in Henan Province.

Xianshou Li, Chairman and Chief Executive Officer of ReneSola, commented: “We are excited to partner with China Kangfu. This facility reinforces our confidence in the enormous potential of China’s domestic distributed generation market.  It also demonstrates the confidence that the capital markets put in our ability to successfully develop projects in this market.  We look forward to accelerating our distributed generation development in China.”