Renesola Signs RMB 2 Billion Cooperation Agreement For Solar PV Manufacturing Project

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Renesola Energy Nantong Co. Ltd (a joint venture between Zhongnan Industry and ReneSola Yixing Co., Ltd,) , signed a cooperation agreement with Hai’An Economic and Technological Development Zone to set up the new manufacturing. The total investment of the project will be 2 billion yuan, mainly for Solar PV Products and Sales. Renesola Energy Nantong Co. ,Ltd which is a joint venture between Zhongnan Industry (a large conglomerate in China) and ReneSola Yixing Co., Ltd (a world reputed Solar PV Manufacturer), will be mainly engaged in the manufacturering and sales of solar PV modules. The strong financial support of Zhongnan Industry and vast manufacturing experience of ReneSola will maximize the benefits for the JV.

In April 2020, ReneSola signed a $100 million strategic investment agreement with the Zhongnan Industry to enhance solar module manufacturing supply chain and later in September, both the organisations announced their JV to setup the additional 3GW of manufacturing facility.

Mr Ren Yongfeng (Director of the Hai’An Development Zone) signed the cooperation agreement with Mr Wan Lirong(Director of the Renesola Energy Nantong Co. ,Ltd).

Mr Yan Changjiang (Member of the Hai’An Standing Committee) congratulated the successful signing of the project. He said that Hai’An will fully promote the optimal policy to push the project to be put into operation as soon as possible. Hai’An will support enterprises to become bigger and stronger, and realize win-win results.

Mr. Sky Wang (CEO of ReneSola Yixing Co., Ltd) mentioned that this new venture will add more value to our supply chain & will make the ReneSola modules more accessible & affordable for the customers worldwide and will further support our expension plans in the new global markets. The new manufacturing unit will start the production by the end of 2020.

Mr. Zheng Lei (CEO of Zhongnan Industry, a subsidiary of Zhongnan Holding Group), said that the new venture is expected to have Solar PV Manufacturing facility of annual production capacity of 3GW. The company will continue to speed up technological innovation, adhere to strict quality management, and strive to hand in a satisfactory answer sheet to customers worldwide.

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