ReneSola Issues Updated Outlook For Project Business - Quick Facts

(RTTNews) - ReneSola Ltd (SOL) announced the company currently has approximately 335 MW of projects that are under construction and plans to construct over 550 MW in 2017. In the U.S., the company plans to construct 108 MW of projects in 2017, of which 70 MW are community solar projects. The projects are located in California, North Carolina and Minnesota.

Xianshou Li, CEO of ReneSola, said: "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."