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

SHANGHAI, April 17, 2017 /PRNewswire/ -- ReneSola Ltd ("ReneSola") (www.renesola.com) (NYSE: SOL), a leading fully-integrated solar project developer and provider of energy-efficient products, today 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.

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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 (NYSE: SOL) 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. For more information, please visit www.renesola.com.

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.

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," "plans," "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 for ReneSola, please contact:

In China:

ReneSola Ltd
Ms. Rebecca Shen
+86 (21) 6280-9180 x106
ir@renesola.com

The Blueshirt Group Asia
Mr. Gary Dvorchak, CFA
+86 (138) 1079-1480
gary@blueshirtgroup.com

In the United States:

The Blueshirt Group
Mr. Ralph Fong
+1 (415) 489-2195
ralph@blueshirtgroup.com

For investor and media inquiries for Greenbacker Renewable Energy Company LLC, please contact:

David Sher
Director
+1 (917) 309 -1234

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/renesola-signs-agreement-to-sell-675mw-of-solar-project-in-north-carolina-300440107.html

SOURCE ReneSola Ltd.

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