ReneSola Ltd announced an equity investment agreement with a strategic investor. The Investor will invest RMB 200 million in cash to acquire 40.13% of Zhejiang ReneSola Investment Limited, the Company's subsidiary that holds the Company's distributed generation projects in China.
Mr. Xianshou Li, ReneSola's Chief Executive Officer, commented, "This strategic investment provides an important capital infusion enabling us to execute our downstream project development plan in China. We believe that bringing in a strategic investor not only validates the quality of our DG project pipelines, but also creates significant synergies between both parties and enhances market confidence. We are confident that our DG project development in China will continue to drive our growth in 2018 and beyond."
