) will supply its new range of quality photovoltaic ("PV") panels
to Segen Ltd ("Segen") to enhance its portfolio. Segen is the UK's
leading distributor of Solar PV and Solar Thermal products and also
value-added distributor of renewable energy technologies.
In order to meet the current customer demand and expected future
requirements in the solar PV market, Segen will now include
ReneSola's 245 watt ("W") and 250 W Virtus modules in its
Virtus modules makes use of leading edge Quasi-Mono wafer
technology that combines the high quality of mono crystalline
silicon with the low cost of multi crystalline silicon PV
technology to produce more efficient and cost-effective solar
wafer. The Virtus range, which is much better than the conventional
16.5% efficiency for multi crystalline PV cells, has the capacity
to convert photons to electrons at efficiencies of more than
18.2%. Under high temperatures, the range offers superb
electricity generation capacity along with a lower level of
When compared to monocrystalline wafers, Virtus has much lower
energy consumption as well as manufacturing costs. This helps in
reducing investment in photovoltaic systems, thereby improving the
rate of return on investment.
In July this year, ReneSola Ltd. had also sold 5.95 MW of its 250 W
high-quality, high-efficiency Virtus modules to Solargain PV Pty
Ltd ("Solargain"). Solar gain is one of the top solar distributors
in Australia and also one of Australia's largest integrated solar
energy and solar hot water suppliers.
A few days back, Segen had entered into a partnership with
Canadian Solar Inc.
) to add Canadian Solar's product range to its portfolio. The main
motive of these solar companies behind using solar modules is to
provide electricity generated from renewable energy.
ReneSola is a leading global manufacturer of high-efficiency solar
PV modules and wafers. 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. The company's
geographically-diversified customer base insulates it from various
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
However, the company's significant presence in the solar module
original equipment manufacturing market is slated to be hurt by
Europe's challenging financing environment. We are also concerned
about 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 R&D
Currently, the company 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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