A leading global manufacturer of solar photovoltaic ("PV")
modules and wafers
) has supplied 10 MW of its 245 Watt ("W") and 250 W multi
crystalline solar modules to saferay GmbH ("saferay").
Located near Schwarzheide in Brandenburg, Germany, saferay GmbH
is a leading large-scale PV power plant installer. ReneSola is
engaged in delivering 10 MW of its 245 W and 250 W multi
crystalline high-quality solar modules directly to saferay for use
in a new PV power plant.
Saferay is also a leader in the field of efficient and fast
installations of large-scale photovoltaic power plants. Saferay
realizes and finances plants primarily for its own asset base. The
company has experience from over 350 MW installed PV capacity. It
utilizes solar modules of various solar companies for using in its
new PV power plant. In November 2011,
Canadian Solar Inc.
) had delivered its solar modules to saferay for an 8.5 MW power
plant located in Lindenhof near Neubrandenburg in the German state
of Mecklenburg-Vorpommern. The photovoltaic system used 36,000
CS6P-P solar modules manufactured and supplied by Canadian
Moreover, ReneSola Ltd. continues to supply its new range of
quality PV panels. Recently, it announced that it will supply its
245 watt and 250 W Virtus modules to Segen Ltd ("Segen").
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 Australia.
ReneSola Ltd. enjoys a geographically-diversified customer base.
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 Replus.
However, the company's significant presence in the solar module
original equipment manufacturing ("OEM") market will be hurt by
Europe's challenging financing environment. Also, we are concerned
due to the 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 development expenses.
The company presently retains a short-term Zacks #2 Rank (Buy).
We have a long-term Neutral recommendation on the stock.
CANADIAN SOLAR (CSIQ): Free Stock Analysis
RENESOLA LT-ADR (SOL): Free Stock Analysis
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