ReneSola Ltd (NYSE: SOL) ("ReneSola" or the "Company"), a global manufacturer of solar products, announced the completion and grid connection of the Company's 20 megawatt ("MW") solar power plant in Wulan County in Qinghai, China with the Company providing all 20 MW of solar modules. The solar power plant is the first of its kind for ReneSola.
Mr. Xianshou Li, ReneSola's chief executive officer, commented, "The completion of our power plant in Qinghai marks our foray into the solar electricity generation business in China, where we see potential for high growth in the next few years. QinghaiProvince has an abundance of natural resources, including sunshine, through its high elevation on the Tibetan plateau. We continue to be excited by China's transformation from a manufacturing hub of solar products into an increasingly important end-user market. The growing number of downstream projects in the domestic market represents a significant opportunity for us to create new revenue streams and expand our local market share."