One of the leading global manufacturers of solar photovoltaic
("PV") modules and wafers,
), has entered into an agreement with Cummings Properties for the
supply of 512 kilowatts ("kW") of its high-quality, and
high-efficiency solar modules.
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Cummings Properties is one of the most prominent full-service
commercial real estate development and property management
organizations in Massachusetts. Per the deal, ReneSola will ship
512 kW of its 305 watt ("W") poly modules in September itself.
Cummings Properties have entered into the contract to use the
modules on its rooftop solar system spread in an area of
two-million square foot corporate campus and retail center in
Beverly, Massachusetts. Cummings Properties designs, constructs and
controls the integration of solar modules on the centers rooftop
Further, the company had announced that its high-wattage 300 W and
305 W 72-cell poly line is ready for delivery from its east and
west coast storehouses in the United States. The company has
already been delivering 60 and 72-cell poly and mono portfolio
high-efficiency solar modules ranging between 255 W to 305 W.
Recently, the company has entered into a contract to sell 4.6
megawatts ("MW") of its high-quality and high-efficiency 255 watt
("W") poly modules to Solar Planet Power Inc. The company plans to
deliver the modules in the third quarter of 2012. Within six
months of the initial delivery, Solar Planet intends to order up to
15 MW of additional solar modules.
ReneSola has a geographically-diversified customer base and
China-based manufacturing assets to capitalize on the subsidy
program in that country. The company's focus is on improving its
operating efficiencies, generating material cost savings through
its vertically-integrated production structure and the newly
introduced diamond-steel wire production process.
In the current solar market place, the company is one of the low
cost per kilowatt-hour module producers. Moreover, installation of
higher wattage, high-efficiency poly modules will allow generation
of same amount of power with less number of modules resulting in a
decline in labor costs.
However the company's significant presence in the solar module
original equipment manufacturing market is expected to be hurt by
Europe's challenging financing environment, rising competition,
credit risk from its customers, oversupply of solar wafer &
modules in the market, as well as the company's high research and
development expenses. The company presently retains a short-term
Zacks #2 Rank (Buy).
ReneSola is a leading global supplier of high-efficiency solar PV
modules and wafers. Capitalizing on proprietary technologies,
economies of scale, high production quality, and technological
innovations and know-how, ReneSola possesses a global network of
suppliers and customers, which includes leading global module and
cell manufacturers. ReneSola solar modules are among the best in
their class with respect to annual kilowatt-hour output and can be
found in projects ranging in size from a few kilowatts to
multi-megawatts all around the world. The company mainly competes
JA Solar Holdings Co. Ltd.
China Sunergy Co. Ltd.