ReneSola Signs 4.3 MW Solar Module Sales Agreement with E.ON

JIASHAN, China, Dec. 7, 2012 /PRNewswire/ -- ReneSola Ltd ("ReneSola") (NYSE: SOL), a leading global manufacturer of solar photovoltaic ("PV") modules and wafers, today announced that it has agreed to ship 4.3 megawatts ("MW") of its high-quality solar modules to E.ON Climate & Renewables GmbH ("E.ON Climate & Renewables"), an award-winning unit responsible for industrial-scale renewable activities within E.ON AG ("E.ON"), one of the world's largest investor-owned power and gas companies.

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Under the terms of the agreement, ReneSola will deliver a total of 4.3 MW of its 245 W multicrystalline solar modules in March 2013 to E.ON Climate & Renewables for use in a solar project in Sassari, Italy.

Mr. Xianshou Li, ReneSola's chief executive officer, said, "Our module business is performing well in Europe. The technology and reliability of our solar modules continue to attract new customers. This is our first project with E.ON and we expect to ship additional solar modules to the company for projects in the United States and Europe. Meanwhile, we will continue to develop our solar technology, as we expand and strengthen our customer relationships, grow our module business and increase our global market share."

About ReneSola

Founded in 2005, ReneSola (NYSE:SOL) is a leading global manufacturer of high-efficiency solar PV modules and wafers. Leveraging its proprietary technologies, economies of scale and technical expertise, ReneSola uses in-house virgin polysilicon and a vertically integrated business model to provide customers with high-quality, cost-competitive products. ReneSola solar modules have scored top PVUSA Test Conditions (PTC) ratings with high annual kilowatt-hour output, according to the California Energy Commission (CEC). ReneSola solar PV modules can be found in projects ranging in size from a few kilowatts to multi-megawatts in markets around the world, including the United States, Germany, Italy, Belgium, China, Greece, Spain and Australia. For more information, please visit www.ReneSola.com.

Safe Harbor Statement

This press release contains statements that constitute ''forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Whenever you read a statement that is not simply a statement of historical fact (such as when the Company describes what it "believes," "expects" or "anticipates" will occur, what "will" or "could" happen, and other similar statements), you must remember that the Company's expectations may not be correct, even though it believes that they are reasonable. The Company does not guarantee that the forward-looking statements will happen as described or that they will happen at all. Further information regarding risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements is included in the Company's filings with the U.S. Securities and Exchange Commission, including the Company's annual report on Form 20-F. The Company undertakes no obligation, beyond that required by law, to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made, even though the Company's situation may change in the future.

For investor and media inquiries, please contact:

In China:

Mr. Tony Hung
ReneSola Ltd
Tel: +86-573-8473-9011
E-mail:  [email protected]

Mr. Derek Mitchell
Ogilvy Financial, Beijing
Tel: +86-10-8520-3073
E-mail:  [email protected]

In the United States:

Ms. Jessica Barist Cohen
Ogilvy Financial, New York
Tel: +1-646-460-9989
Email: [email protected]

SOURCE ReneSola Ltd