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ReneSola Ltd (SOL)

SOL on New York Consolidated

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19 Sep 2017
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Latest Key Developments (Source: Significant Developments)

ReneSola to sell 24MW of solar project in North Carolina
Tuesday, 5 Sep 2017 06:30am EDT 

Sept 5 (Reuters) - ReneSola Ltd :ReneSola signs agreement to sell 24MW of solar project in North Carolina.ReneSola Ltd - projects are expected to be connected to grid by December 2017.ReneSola-Ground-Mounted projects have aggregate capacity of about 24MW & sell power generated to local utility under 15-year power purchase agreement.ReneSola - signed agreement to sell portfolio of ground-mounted projects located in North Carolina to unit of Panda Green Energy Group Limited.  Full Article

Renesola signs agreement to sell 10MW of solar projects in the UK
Thursday, 31 Aug 2017 06:30am EDT 

Aug 31 (Reuters) - Renesola Ltd :Renesola signs agreement to sell 10MW of solar projects in the UK.Renesola - ‍agreed to sell two ground-mount projects in United Kingdom to greencoat Solar II Lp, an investment vehicle managed by Greencoat Capital Llp​.Renesola Ltd - ‍two projects to be sold are located in North Yorkshire and Shropshire and have a combined capacity of approximately 10 MW​.  Full Article

Renesola and Nautilus Solar acquire a 13.3mw community solar portfolio in Minnesota
Monday, 14 Aug 2017 06:40am EDT 

Aug 14 (Reuters) - Renesola Ltd :Renesola and Nautilus Solar announce the acquisition of a 13.3mw community solar portfolio in Minnesota.Renesola Ltd - ‍portfolio is expected to be built through remainder of 2017, coming online during Q1 2018​.Renesola - ‍projects under the portfolio will be owned by affiliate of Virgo Investment, which is also a minority shareholder of Nautilus Solar Energy​.  Full Article

Renesola engages financial advisor and legal counsel
Monday, 17 Jul 2017 06:30am EDT 

July 17 (Reuters) - Renesola Ltd ::Renesola special committee engages financial advisor and legal counsel.Renesola Ltd - ‍special committee of board retained Roth Capital Partners as financial advisor and Kirkland & Ellis as U.S. legal counsel​.Renesola- ‍retained financial advisor, U.S. Legal counsel in connection with review of preliminary non-binding proposal dated June 13 from Xianshou Li.Renesola - ‍neither board nor special committee has made any decision with respect to company's response to proposal​.  Full Article

ReneSola awarded 42MW of solar projects in Poland's electricity auction
Monday, 10 Jul 2017 06:40am EDT 

July 10 (Reuters) - ReneSola Ltd ::ReneSola awarded 42MW of solar projects in Poland's electricity auction.ReneSola Ltd - the projects are expected to be connected to utility grid by Q2 and Q3 2018 respectively​.  Full Article

Renesola awarded 5MW of solar projects in Thailand
Thursday, 6 Jul 2017 06:40am EDT 

July 6 (Reuters) - Renesola Ltd :Renesola awarded 5MW of solar projects in Thailand.Renesola Ltd - projects are all expected to be connected to grid by December 31, 2018.Renesola Ltd - electricity generated from projects will be sold to local utility under a 25-year purchase agreement.  Full Article

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

BRIEF-ReneSola to sell 24MW of solar project in North Carolina

* ReneSola signs agreement to sell 24MW of solar project in North Carolina