ReneSola lifts 2012 shipment target, unveils 100 MW order

Jul 13, 2012 - Chinese solar products maker ReneSola Ltd (NYSE:SOL) on Friday raised its guidance for 2012 shipments to a range of between 2.2 GW and 2.4 GW as it unveiled an order for 100 MW of modules from Greece.

The revised outlook compares with the 1.8 GW to 2 GW in total solar wafer and module shipments previously forecast for 2012. The company expects its shipments in the first half of the year to be close to 1 GW.

ReneSola said it had signed an exclusive distribution deal to supply 100 MW of its Virtus modules to Greek photovoltaic (PV) systems distributor Big Solar SA. The modules are to be shipped in the next 12 months.

ReneSola and Big Solar have been working together since the start of 2011, according to the announcement. In the first half of 2012, the Chinese company provided 40 MW of its Virtus modules to the Greek market.

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