ReneSola Ltd ("ReneSola" or "the Company") (NYSE: SOL), a leading brand and technology provider of solar photovoltaic products, today announced it will provide 10 megawatts ("MW") of solar modules to Juwi India Renewable Energies Pvt. Ltd. ("Juwi India"), a Bangalore-based engineering, procurement and construction (EPC) firm specializing in solar and wind energy plants. The modules will power a utility-scale project in Rajasthan to be developed by Atha Group, an India-based conglomerate with operations in mining, steel manufacturing, power, and renewable energy.
Under the terms of the agreement, in September and November of this year, ReneSola will deliver a total of 10MW of its Virtus modules manufactured at the Company's India-based OEM facilities, in accordance with India's applicable domestic content requirements (DCR), which call for certain solar projects in the country to incorporate locally manufactured components.
"India continues to be a strong performer for us, in fact this is our second major contract win announcement for this market in as many weeks," said Mr. Xianshou Li, the Company's chief executive officer. "With the increasing demand for DCR modules in the India market, our network of OEM manufacturing and on-the-ground teams enable us to satisfy domestic content requirements while responding to market needs in real time."
