ReneSola To Sell Ten Rooftop DG Projects - Quick Facts

(RTTNews) - ReneSola Ltd (SOL) announced the sale of two project companies to Shanghai Hongzuo New Energy Company. Under the deal, ReneSola will divest the Ningbo Qixu New Energy Company, Ltd. and Taizhou Dehong New Energy Technology Company, Ltd. The deal includes ten rooftop DG projects which have an aggregate capacity of 12.3MW.

Shelley Xu, CEO of ReneSola, said, "As we evolve ReneSola into an asset-light solar project developer, we continue to expect to gradually monetize our China DG assets, further strengthening our balance sheet, reducing leverage, and improving cash flow. In addition to the China domestic market, we continue to pursue opportunities around the world."