The integrated PV manufacturer — which describes the Chinese rooftop PV market as a “lucrative opportunity” — is now developing more than 130 MW of such projects in the country. Most of that capacity is concentrated in a number of eastern provinces. It expects to own up to 200 MW of rooftop PV capacity by the end of this year.
“Our efforts in the China rooftop market enable us to become the only U.S.-listed company levered to the exciting China rooftop opportunity,” said Xianshou Li, the Shanghai-based company’s chairman and chief executive.
Several weeks ago, ReneSola reported a net loss of $31.5 million for the second quarter of 2017, from a loss of $23.2 million in the first three months of the year. However, the company — which is currently transforming itself into a pure-play downstream solar project developer — said that its results for the April-June period do not provide an accurate picture of its financial health, because most of the declines it recorded for the quarter were tied to operations that are being sold off.
In September, ReneSola unveiled plans to sell off parts of its solar manufacturing business to the CEO as part of an ongoing restructuring push. The announcement followed reports in late August that the company was in danger of having its American Depositary Shares (ADS) delisted from the New York Stock Exchange (NYSE). The warning from the NYSE was the second that ReneSola had received in less than a year from the market regulator.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
1 comment
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.