Renesola Signs Cooperation Agreement for Solar PV Manufacturing Plant

Renesola Energy Nantong (a joint venture between Zhongnan Industry and ReneSola Yixing), signed a cooperation agreement with Hai’An Economic and Technological Development Zone to set up the new manufacturing. The total investment of the project will be 2 billion yuan, mainly for Solar PV Products and Sales.

Renesola Energy Nantong which is a joint venture between Zhongnan Industry (a large conglomerate in China) and ReneSola Yixing (a world-reputed Solar PV manufacturer), will be mainly engaged in the manufacturing and sales of solar PV modules. The strong financial support of Zhongnan Industry and the vast manufacturing experience of ReneSola will maximise the benefits for the JV.

In April 2020, ReneSola signed a USD 100 million strategic investment agreement with the Zhongnan Industry to enhance the solar module manufacturing supply chain, and later in September, both the organisations announced their JV to set up the additional 3 GW of manufacturing facility.

Yan Changjiang (Member of the Hai’An Standing Committee) congratulated the successful signing of the project. He said that Hai’An will fully promote the optimal policy to push the project to be put into operation as soon as possible. Hai’An will support enterprises to become bigger and stronger and realize win-win results.

Sky Wang (CEO of ReneSola Yixing Co., Ltd) mentioned that this new venture will add more value to their supply chain and will make the ReneSola modules more accessible and affordable for the customers worldwide and will further support its expansion plans in the new global markets. The new manufacturing unit will start production by the end of 2020.

Zheng Lei (CEO of Zhongnan Industry, a subsidiary of Zhongnan Holding Group), said that the new venture is expected to have a Solar PV Manufacturing facility with an annual production capacity of 3 GW. The company will continue to speed up technological innovation, adhere to strict quality management, and strive to hand in a satisfactory answer sheet to customers worldwide.