China-based ReneSola Ltd to provide virtus II solar photovoltaic modules to India

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solar costFriday, August 22, 2014: ReneSola Ltd (China) has announced that they will provide 5.4 MW solar modules to New Delhi-based engineering, procurement and construction (EPC) firm, Welspun Energy Pvt Ltd, for a utility-scale project in India. India’s domestic requirement can be fulfilled by OEM-produced Virtus II modules.

The agreement’s terms include the company will provide 240W and 245W versions of its Virtus II solar photovoltaic (PV) modules which are quite popular. These modules were manufactured at the company’s India-based OEM facilities. These modules satisfy the project’s domestic content requirements (DCR). It enables some solar projects to incorporate locally manufactured components. Now the project is set to be expanded if a regulatory allocation is made by India’s National Solar Mission.

ReneSola CEO Xianshou Li said, “ReneSola’s global OEM capacity of more than 1.1 gigawatts allows us to respond quickly to client demand and to shifting trade policies across the major solar markets, which have become problematic for many of our China-based peers.” He said further, “India is one of our seven OEM locations around the world, and we see high growth potential in the country’s DCR market. Moreover, we look forward to working with Welspun Energy, an experienced and fast-growing EPC, to help India reach its green energy goals.”

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