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ReneSola Ltd (SOL)

SOL on New York Consolidated

3.20USD
22 Nov 2017
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Latest Key Developments (Source: Significant Developments)

Renesola announces senior management changes
Monday, 13 Nov 2017 06:30am EST 

Nov 13 (Reuters) - Renesola Ltd :Renesola announces senior management changes.Renesola Ltd - ‍Kevin Chen has decided to resign as president of U.S. Region to pursue other interests, effective November 10, 2017​.Renesola Ltd - ‍ due to personal reasons, Kevin Chen has decided to resign as president of u.s. Region to pursue other interests, effective Nov 10, 2017​.Renesola Ltd - ‍company has appointed Doran Hole as Chief Executive Officer of North America and group vice president of strategy​.  Full Article

Renesola provides business update and announces Q2 2017 results
Wednesday, 27 Sep 2017 07:45am EDT 

Sept 27 (Reuters) - Renesola Ltd : :Renesola provides business update and announces second quarter 2017 results.Q2 revenue $151.6 million.Renesola Ltd - q2 revenue of $151.6 million was down 3.2% sequentially and down 39.4% year-over-year.Renesola Ltd - ‍for q3 of 2017, company's project business is expected to generate revenue in range of $40 to $45 million​.Renesola Ltd - ‍"company believes china rooftop solar market is an especially lucrative opportunity"​.Renesola Ltd - ‍company expects to connect 20 to 30 MW of projects during Q3 of 2017​.Renesola Ltd - ‍"currently owns over 130 MW of rooftop projects under development, concentrated in a handful of eastern provinces of china​".Renesola Ltd - ‍"anticipates to own 150 MW of china's rooftop projects by end of 2017​".Renesola Ltd - "‍over time, company intends to shift a meaningful amount of its revenue to recurring power sales"​.Renesola Ltd - ‍renesola "intends to retain more projects in selected regions and become an independent power producer"​.Renesola Ltd qtrly loss per share $0.16.Renesola ltd qtrly loss per ads $1.57.  Full Article

Renesola enters agreement to dispose manufacturing and LED distribution businesses
Monday, 25 Sep 2017 12:44pm EDT 

Sept 25 (Reuters) - Renesola Ltd ::Renesola enters into definitive agreement for the disposition of manufacturing and led distribution businesses and related liabilities.Company has entered into a share purchase and subscription agreement with Xianshou Li, chairman and chief executive officer of company​.Pursuant to terms of SPA, Renesola Singapore (SGP) will cancel about $217.3 million of intercompany payables owed by company to SGP.Following restructuring, at closing of transactions contemplated by SPA ,co will transfer 100% of share capital of SGP to buyer​.Pursuant to terms of share purchase and subscription agreement​ company will effect an internal restructuring.Pursuant to terms of SPA, co will issue 180 million shares of no par value per share of company to Renesola Singapore Pte​.As a result of SGP share transfer co expects ‍bank borrowings in excess of RMB 3 billion to not be consolidated on company's balance sheet​.Co has significant amount of debt & periodic interest payment obligations, which together pose substantial going-concern risks to co​.Co was searching for strategic alternative that could alleviate going-concern risks and avoid significant impairment to shareholder value​.Post restructuring, SGP to hold substantially all of co's assets & liabilities related to manufacturing business & led distribution business​.Believe transaction will help alleviate co's going-concern risks and de-listing risks, enhance co's capital raising capabilities​.  Full Article

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

BRIEF-Renesola announces senior management changes

* Renesola Ltd - ‍Kevin Chen has decided to resign as president of U.S. Region to pursue other interests, effective November 10, 2017​