ReneSola Ltd ("ReneSola" or the "Company") (NYSE: SOL), a global manufacturer of solar wafers and solar modules, announced that it has sold 5.95 MW of its high-quality, high-efficiency Virtus modules to Solargain PV Pty Ltd ("Solargain"), one of the top solar distributors in Australia and one of Australia's largest integrated solar energy and solar hot water suppliers.
Under the terms of the agreement, ReneSola will ship a total of 5.95 MW of its 250 W high-quality, high-efficiency Virtus modules directly to Solargain. ReneSola also expects to ship additional modules to Solargain in the near future.
Mr. Xianshou Li, ReneSola's chief executive officer, said, "This is another demonstration of the ever-increasing market recognition of our superior products, including our Virtus products, and the strength of our technology and investments in research and development. We are pleased to be able to supply our Virtus modules to Solargain, which is a solar product leader in the Australian market, and we hope to continue to grow our relationship with Solargain. This deal reflects not only our strong position in Australia, where we have shipped over 40 MW of modules year to date, but also greatly strengthens our worldwide brand recognition and module business. We believe that over time we will continue to improve our position in the market."