ReneSola claims 335-MWs of projects in construction worldwide, forecasts over 550-MWs for 2017

Written By: Stratton Report
March 8, 2017

Rene Sola

On March 8, ReneSola Ltd announced that it currently had approximately 335 MW of projects that are under construction and plans to construct over 550 MW in 2017.
The firm noted that during the construction phase, the projects will be financed either by construction loans or via payment installments from the buyers.

Per ReneSola, in the U.S., it will construct 108 MW of projects in 2017, of which 70 MW are community solar. The projects are located in California, North Carolina and Minnesota.

ReneSola also claims projects in the U.K. (14-MWs), Poland (13-MWs), Canada (9-MWs), Turkey (13-MWs), and China (393-MWs).

Xianshou Li, Chairman and Chief Executive Officer of ReneSola, commented:

We now anticipate fewer external module shipments in the first quarter of 2017 as we had redirected more module sales to our own downstream projects. That said, we expect project sales to pick up in the second quarter. Overall, we remain optimistic about our project development business. We continue to gain traction in the domestic Chinese distributed generation market and remain focused on executing our efforts in developed markets which are expected to have stable returns and healthy cash flow. We look forward to further growing this business in the quarters ahead.