North Coast Solar Stocks

July 29, 2009

ReneSola Celebrates Official Grand Opening of 3,000 MT Polysilicon Manufacturing Facility in Sichuan Province

Filed under: SOL — Tags: , , , — Jason @ 12:07 pm

Wednesday July 29, 2009, 12:07 pm EDT

JIASHAN, China, July 29 /PRNewswire-Asia-FirstCall/ — ReneSola Ltd (“ReneSola” or the “Company”) (SOL), a leading global manufacturer of solar wafers, today held a ceremony to celebrate the official grand opening of its 3,000 metric tonne (“MT”) polysilicon manufacturing facility and the successful output of the first batch of polysilicon from Phase 1 of the plant in Meishan city, Sichuan province, China. Among those attending the ceremony were executives from the Company including CEO Mr. Xianshou Li and CFO Mr. Charles Bai, local and provincial government officials from Sichuan, Zhejiang and Jiangsu provinces, regions in which ReneSola maintains operations, representatives from local and domestic national banks, as well as management from over 50 local and solar related companies.

“The opening of our Sichuan polysilicon manufacturing plant and successful production of our first batch of quality polysilicon on July 23rd are great milestones for ReneSola,” commented Mr. Xianshou Li, ReneSola’s chief executive officer. “These accomplishments mark the evolution of ReneSola from one of the world’s largest solar wafer manufacturers into a leading, low-cost, fully integrated global solar company. We are grateful for the support we have received from our local and national partners, clients and employees throughout the construction and testing processes, and we are proud of our management team for once again demonstrating its strong execution capabilities. We look forward to receiving a smooth supply of low-cost polysilicon from our new plant, which will significantly enhance our position as one of the leading low-cost solar companies globally.”

As previously announced, the Company successfully commenced trial production on the first batch of polysilicon from Phase 1 of its two-phase, 3,000 MT annualized capacity polysilicon manufacturing plant in mid-July. Phase 2 is expected to reach mechanical completion in September 2009. ReneSola’s Sichuan polysilicon manufacturing facility utilizes a close-loop Advanced Siemens Process for polysilicon production.

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