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ReneSola Ltd (SOL)

SOL on New York Consolidated

2.47USD
28 Jun 2017
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Latest Key Developments (Source: Significant Developments)

ReneSola qtrly loss per share $0.12
Thursday, 15 Jun 2017 07:45am EDT 

June 15 (Reuters) - ReneSola Ltd ::ReneSola announces first quarter 2017 results.Sees FY 2017 revenue $900 million to $1.0 billion.Q1 revenue fell 32.5 percent to $156.6 million.Sees Q2 2017 revenue $180 million to $200 million.ReneSola Ltd qtrly gross margin was 1.1%, compared to 2.1% in q4 2016 and 17.1% in q1 2016.Says for Q2 of 2017, expects downstream project sales to increase when compared to Q1 of 2017.ReneSola Ltd - qtrly loss per share $0.12.ReneSola - ‍currently has over 270 mw project pipelines under construction, plans to construct over an aggregate of 550 mw of projects in year of 2017​.ReneSola Ltd - ‍during construction phase, projects will be financed by construction loans, as well as installment payments from buyers​.ReneSola Ltd - qtrly loss per ADS $1.16.ReneSola Ltd - ‍during Q1, total external module shipments were 266.8 mw, down 19.3% from Q4 2016​.ReneSola Ltd qtrly ‍total wafer shipments were 259.2 mw, down 15.3% from Q4 2016 and down 26.2% from Q1 2016​.ReneSola Ltd - "ReneSola remains optimistic about growth prospects in led business"​.ReneSola Ltd - ‍for Q2 2017 expects external wafer shipments in range of 220mw to 240mw and external module shipments in range of 230mw to 250mw​.ReneSola - has over 270 mw project pipelines under construction, plans to construct over an aggregate of 550 mw of projects in year of 2017.ReneSola Ltd - during construction phase, projects pipelines will be financed by construction loans, as well as installment payments from buyers.  Full Article

Renesola announces formation of special committee to consider strategic transactions
Wednesday, 14 Jun 2017 06:30am EDT 

June 14 (Reuters) - Renesola Ltd :Renesola announces receipt of a preliminary non-binding proposal and formation of special committee to consider strategic transactions.Renesola announces receipt of a preliminary non-binding proposal and formation of special committee to consider strategic transactions.Renesola Ltd - estimates value of acquired businesses, net of assumed indebtedness, to be approximately negative us$81 million.Says proposal estimates value of acquired businesses, net of assumed indebtedness, to be approximately negative $81 million.Renesola Ltd - ‍proposal estimates value of acquired businesses, net of assumed indebtedness, to be approximately negative us$81 million​.Renesola- ‍if transactions contemplated by proposal are consummated, co's remaining businesses would be focused primarily on solar project development​.Renesola Ltd - special committee will conduct process with assistance of financial advisor and legal counsel.Renesola-Got preliminary non-binding proposal dated june 13 from ceo xianshou li to buy manufacturing and led distribution businesses, assume related indebtedness.renesola-‍proposal contemplates in exchange for, among other things, assumption by li of indebtedness, co would issue additional ads to li at $4.50/ads ​.  Full Article

Renesola signs agreement to sell 6.75mw of solar project in North Carolina
Monday, 17 Apr 2017 06:30am EDT 

April 17 (Reuters) - Renesola Ltd :Renesola signs agreement to sell 6.75mw of solar project in North Carolina.Renesola Ltd - agreement to sell its utility-scale project located in North Carolina to New York-based Greenbacker Renewable Energy Company Llc.Renesola Ltd - deal to sell power generated to local utility under a 15-year purchase agreement.  Full Article

Renesola qtrly loss per ADS $1.26
Tuesday, 28 Mar 2017 07:00am EDT 

Renesola Ltd : Renesola announces fourth quarter and full year 2016 results . Sees FY 2017 revenue $900 million to $1.0 billion . Sees Q1 2017 revenue $130 million to $150 million . Renesola Ltd - qtrly revenue of $232.1 million was in line with management guidance range of $220 million to $240 million . Renesola Ltd qtrly loss per ADS was $1.26 . Renesola Ltd qtrly total external module shipments were 330.7 MW, up 72.9% from Q3 2016 and down 11.4% from Q4 2015 . Renesola Ltd qtrly total wafer shipments were 305.9 MW, up 5.3% from Q3 2016 and up 13.2% from Q4 2015 . Renesola Ltd qtrly gross margin declined to 2.1% from 10.1% in Q3 2016 and from 16.0% in Q4 2015 . Renesola Ltd - expect downstream project sales to pick up in Q2 of 2017 . Renesola Ltd - for Q1 2017, company expects external wafer shipments in range of 240MW - 260MW, external module shipments in range of 250MW - 260MW . Renesola - Renesola UK Ltd has received decision, post-clearance duty demand note from her majesty's revenue and customs (HMRC) of UK government . Renesola-Decision, post-clearance duty demand note requires renesola to pay add, CVD and value added tax of approximately US$1.7 million in total . Renesola- add, CVD associated with certain imports of solar panels from Renesola Singapore PTE, Enfield Solar Energy Ltd India between Dec 2013 - Feb 2014.  Full Article

ReneSola provides outlook for project business
Wednesday, 8 Mar 2017 06:30am EST 

ReneSola Ltd - : Currently has approximately 335 mw of projects that are under construction and plans to construct over 550 mw in 2017. . In U.K., company intends to construct approximately 14 mw of projects this year . During construction phase, projects will be financed by construction loans . In U.S., company plans to construct 108 mw of projects in 2017, of which 70 mw are community solar projects . ReneSola Ltd - "Now anticipate fewer external module shipments in q1 of 2017 as we had redirected more module sales to our own downstream projects" . During construction phase, projects will also be funded by payment installments from buyers . Expect project sales to pick up in q2 . Continue to gain traction in domestic Chinese distributed generation market .In Canada, company plans to construct about 9 mw of small-scale utility projects under feed-in tariff 3.0 in current calendar year.  Full Article

Shenzhen Clou Electronics reaches settlement with ReneSola Ltd
Wednesday, 8 Feb 2017 01:56am EST 

Shenzhen Clou Electronics Co Ltd <002121.SZ>: Says the co reached settlement with ReneSola Ltd . Says the co agreed to pay 24.7 million yuan to ReneSola Ltd .Says previous release disclosed on Oct. 25, 2016.  Full Article

ReneSola provides outlook for China distributed generation business
Monday, 6 Feb 2017 06:30am EST 

ReneSola Ltd - : ReneSola provides solid outlook for China distributed generation business . Over last few months, domestic distributed generation pipeline has expanded from 16 MW as of Aug 31, 2016 to 393 MW as of Jan 31, 2017 .Says as of January 31, 2017, company had over 393 MW of solar rooftop projects in "shovel-ready" stage.  Full Article

Renesola to provide services for projects in some Chinese provinces
Friday, 3 Feb 2017 06:30am EST 

Renesola Ltd :Renesola Ltd says will provide EPC service for solar rooftop projects in Shandong, Anhui And Zhejiang provinces with a combined capacity of 32 MW.  Full Article

Renesola signs framework agreement to develop 335 mw of rooftop projects
Tuesday, 3 Jan 2017 06:30am EST 

Renesola Ltd : Renesola signs framework agreement to develop 335 mw of rooftop projects . Projects are anticipated to be completed by June 30, 2017. . Signed agreement with unit of Beijing Enterprises Clean Energy Group Limited to develop 335 mw of rooftop solar projects .Beijing Enterprises Clean Energy will provide financing for projects during construction.  Full Article

Renesola's qtrly loss per ads $0.20
Tuesday, 29 Nov 2016 06:55am EST 

Renesola Ltd : Renesola announces third quarter 2016 results . Sees Q4 revenue $220 million to $240 million . Q3 revenue fell 25.2 percent to $187 million . "anticipate solar industry headwinds to continue into 2017" . Renesola ltd - during Q3, total external module shipments were 191.2 MW, down 32.3 pct from Q2 of 2016 . Qtrly gross margin of 10.1pct compared with 16.1pct in Q3 2015 . Renesola Ltd qtrly total wafer shipments were 290.5 mw, down 31.4pct from Q2 of 2016 and down 15.0pct from Q3 of 2015 . Qtrly loss per ads $0.20 . Qtrly loss per ads were $0.20, compared to earnings per ads $0.05 in Q2 of 2016 . Qtrly foreign exchange loss of $3.3 million, partially offset by gains on derivatives of $0.3 million . Renesola - in quarter, reduction in shipments reflected softened demand in domestic market .Renesola Ltd - Q4 outlook reflects reduced shipments due to weak domestic demand, high polysilicon prices, and declining wafer prices.  Full Article

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BRIEF-ReneSola qtrly loss per share $0.12

* ReneSola Ltd qtrly gross margin was 1.1%, compared to 2.1% in q4 2016 and 17.1% in q1 2016