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FRANKFURT, Germany, November 27, 2012 /PRNewswire/ -- ReneSola Ltd ("ReneSola" or the "Company") (NYSE: SOL), a leading global manufacturer of solar photovoltaic ("PV") modules and wafers, today announced its 300 watt ("W") multicrystalline solar module has passed the potential-induced degradation ("PID") test performed by TUV SUD, a leading provider of testing, inspection and certification solutions.
The PID test was conducted by TUV SUD to assess loss of power output of solar modules under severe conditions of high voltage, high temperature and high humidity. ReneSola's 300 W multicrystalline solar module was exposed to 1,000 volts of bias voltage at a temperature of 85 degrees Celsius and a relative humidity of 85% for 96 consecutive hours. During the test, ReneSola's maximum degradation of power output was 1.34%, significantly below the maximum allowable power output degradation of 5%.
Mr. Xianshou Li, ReneSola's chief executive officer, commented, "The fact that our high-wattage 300 W poly module passed TUV SUD's PID test by such a large margin underscores its value proposition. Solar developers not only get more power per square foot with this module, but also a long life cycle with minimal degradation and reliable power output. PID is an important purchasing factor for solar developers, particularly if the modules are to be used in areas of high humidity and high temperatures. Our TUV SUD test result should reassure customers of the reliability of our solar modules and demonstrate our commitment to producing high-quality solar products."
About ReneSola
Founded in 2005, ReneSola (NYSE:SOL) 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 modules have scored top PVUSA Test Conditions (PTC) ratings with high annual kilowatt-hour output, according to the California Energy Commission (CEC). 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, China, Greece, Spain and Australia. For more information, please visit www.ReneSola.com.
Safe Harbor Statement
This press release contains statements that constitute ''forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Whenever you read a statement that is not simply a statement of historical fact (such as when the Company describes what it "believes," "expects" or "anticipates" will occur, what "will" or "could" happen, and other similar statements), you must remember that the Company's expectations may not be correct, even though it believes that they are reasonable. The Company does not guarantee that the forward-looking statements will happen as described or that they will happen at all. Further information regarding risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements is included in the Company's filings with the U.S. Securities and Exchange Commission, including the Company's annual report on Form 20-F. The Company undertakes no obligation, beyond that required by law, to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made, even though the Company's situation may change in the future.
For investor and media inquiries, please contact:
In China:
Mr. Tony Hung
ReneSola Ltd
Tel: +86-573-8473-9011
E-mail: ir@renesola.com
Mr. Derek Mitchell
Ogilvy Financial, Beijing
Tel: +86-10-8520-3073
E-mail: sol@ogilvy.com
In the United States:
Ms. Jessica Barist Cohen
Ogilvy Financial, New York
Tel: +1-646-460-9989
Email: sol@ogilvy.com
