ReneSola to sell 60 MW in western China, completes rooftop array in Mexico

Chinese solar company ReneSola Ltd. has signed a memorandum of intent to sell three utility-scale PV power plants in western China totaling 60 MW to Chinese solar products producer Jiangsu Akcome Solar Science & Technology Co. Ltd. No financial details were revealed. The three grid-connected PV power plants are located in China’s Qinghai and Xinjiang provinces. Commenting on the agreement, ReneSola CEO Xianshou Li said: »Once completed, this deal will enable us to decrease our debt level and increase our cash flow, which will help us improve our financial position. Thus, we will have greater flexibility to further expand our business in new and existing markets.«
ReneSola also announced that it has completed a 192 kW rooftop PV system in Lerma, Edo, Mexico in collaboration with Solar Power Systems of Mexico. The PV array is located atop a factory occupied by glass manufacturer Vidrio Formas.

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