Blog Exposure - ReneSola Collaborates with Green City Energy to Build Solar Projects in Southern France

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LONDON, UK / ACCESSWIRE / March 22, 2018 / Active-Investors.com has just released a free research report on ReneSola Ltd (NYSE: SOL). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=SOL as the Company's latest news hit the wire. On March 20, 2018, the Company, which is a China-based solar project developer, announced a strategic partnership with Green City Energy AG, a subsidiary of Germany-based project developer and financier, Green City e.V., to jointly build four solar parks in the south of France, with a total installed capacity of 69 MW. The project will generate approximately 105 million kWh of solar power per year.Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, ReneSola most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Terms of the Partnership Agreement

As per the agreement terms, ReneSola and Green City Energy will form a joint holding Company. ReneSola will own 95% of the joint holding Company during the development period, which is estimated to be approximately two years. Following the project development phase, Green City Energy will take control of the solar plants entirely.

The Companies will Develop a Combination of 50% of the Solar Systems with Government Subsidies and Remaining 50% without Subsidies

Jürgen Leinmüller, Managing Director of Green City Energy, stated that the Company is excited to collaborate with a strong business partner like Renesola to leverage their expertise in developing solar projects at grid parity around the world. Leinmüller added that with grid parity in southern France, Green City Energy expects approximately 50% of the planned solar plants to go online without feed-in tariffs. Green City Energy and ReneSola intend to provide a combination of 50% of the solar systems with government subsidies and the remaining 50% without subsidies.

Partnership Builds on a Key Partner Relationship in One of the Growing Geographic Regions

Commenting on the agreement, Josef Kastner, Managing Director of ReneSola Engineering International GmbH, stated that the Company already has a solid relationship with Green City, as both have collaborated in a few rooftop solar systems. Kastner further added that the partnership builds on a key partner relationship in one of the growing geographic regions and further capitalizes on the Company's expertise, while expanding market opportunity.

ReneSola's Solar Products

As a vertically-integrated solar manufacturer, ReneSola offers a wide range of solar products across multiple applications including residential, commercial, and utility-scale. Since 2005, the Company has supplied more than 14GW of solar products to thousands of clients around the world. ReneSola's key solar products includes PV modules, inverters, and solar kits. The Company plans to build and sell around 100MW of projects overseas in 2018, and build and retain around 400MW in China.

About ReneSola Ltd

Founded in 2005 and headquartered in Shanghai, China, ReneSola is an international leading manufacturer and supplier of green energy products. Leveraging its global presence and solid experience in the industry, the Company is well-positioned to develop green energy projects with attractive return around the world.

About Green City Energy AG

Established in 2005 as the subsidiary of the non-profit environmental organization, Green City e.V., Green City Energy designs and implements solar, wind, and hydro power plants. The Company offers project acquisition, project development, project finance, construction planning and management for renewable energy projects, and municipal energy consulting. Green City Energy is based in Munich, Germany.

Stock Performance Snapshot

March 21, 2018 - At Wednesday's closing bell, ReneSola's stock dropped 2.97%, ending the trading session at $2.61.

Volume traded for the day: 35.59 thousand shares.

Stock performance in the last month – up 4.40%; previous six-month period – up 16.52%; and past twelve-month period – up 7.85%

After yesterday's close, ReneSola's market cap was at $102.23 million.

The stock is part of the Technology sector, categorized under the Semiconductor - Specialized industry.

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