) brought its new Virtus II multi crystalline modules to the
Indian market at the sixth Renewable Energy India 2012 Expo, held
in New Delhi. Also, the company has started providing PV modules
produced in its local market to the Indian market.
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Considering the pace of demand for PV modules, ReneSola intends
to provide 250 MW of India-made ReneSola modules over a two-year
period to the Indian market. The company will execute its task
and achieve its target of reaching the Indian market in
collaboration with local strategic partners in India.
The company continues to execute its sales and marketing approach
of professionalization, internationalization and localization.
Taking into account the importance of Indian PV market, the
company has provided locally produced PV modules outside China
for the first time.
ReneSola is a leading global manufacturer of high-efficiency
solar PV modules and wafers. Leveraging its proprietary
technologies, economies of scale and technical expertise,
ReneSola uses in-house virgin polysilicon and a vertically
integrated business model to provide customers with high-quality,
cost-competitive products. ReneSola solar PV modules can be found
in projects ranging in size from a few kilowatts to
multi-megawatts in markets around the world, including the United
States, Germany, Italy, Belgium, Greece, Spain, China and
With government's strong support and generous subsidies for solar
energy, ReneSola considers India to be a key market within Asia.
Also, the company is moving well internationally. Recently, the
company launched optimized Virtus II module and Virtus II plus
250 at All Energy Australia 2012 held at the Melbourne Convention
& Exhibition Centre.
The company's focus is on improving its operating efficiencies,
generating material cost savings through its
vertically-integrated production structure and introduction of
innovative products like the power conserving microinverter
However, the company's significant presence in the solar module
original equipment manufacturing market will be hurt by Europe's
challenging financing environment. Also, we remain concerned due
to tepid demand for solar products in Europe, rising competition,
credit risk from its customers, oversupply of solar wafer &
modules in the market, and the company's high research and
The company presently retains a short-term Zacks #3 Rank (Hold)
that corresponds with our long-term Neutral recommendation on the
The company mainly competes with
JinkoSolar Holding Co., Ltd.
JA Solar Holdings Co., Ltd.