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ReneSola Signs Agreement to Sell 6.75MW of Solar Project in North Carolina

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ReneSola Ltd ("ReneSola"), a leading fully-integrated solar project developer and provider of energy-efficient products, announced that it signed an agreement to sell its utility-scale project located in North Carolina, United States to New York-based Greenbacker Renewable Energy Company, LLC ("Greebacker"), a publicly registered, non-traded Limited Liability Company focused on investments in renewable energy power plants and energy efficiency projects as well as other sustainable investments.

Powered by ReneSola's Virtus II 315W modules, the utility project has a capacity of approximately 6.75 MW and will sell the power generated to the local utility under a 15-year purchase agreement.

Xianshou Li, Chairman and Chief Executive Officer of ReneSola, commented: "This agreement further demonstrates our capability of developing and monetizing projects in more attractive developed markets. The U.S. remains an important market for us, and recent activity continues to highlight our competitive advantages in the region. Our project pipeline in the U.S. consists of over 105 MW of mid-to-late stage projects, and we expect the region to be a major growth market in the years ahead."

About ReneSola

Founded in 2005, and listed on the New York Stock Exchange in 2008, ReneSola is an international leading brand and technology provider of energy efficient products. Leveraging its global presence and expansive distribution and sales network, ReneSola is well positioned to provide its highest quality green energy products and on-time services for EPC, installers, and green energy projects around the world. 

About Greenbacker Renewable Energy Company LLC

Greenbacker Renewable Energy Company is a publicly registered, non-traded limited liability company that has acquired a diversified portfolio of income-producing renewable energy power plants, energy efficiency projects and other sustainable investments.

Based in New York, New York, Greenbacker operates solar and wind facilities throughout the United States and Canada.

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