Rochester, NY 8/21/2009 11:14:27 AM
ReneSola Ltd. (ADR) SOL , ReneSola (New York Stock Exchange) unfinished
ReneSola Ltd. (ADR)
ReneSola Ltd. report has been granted the exclusive right in a letter of purpose with the Taiyangshan Development Zone in Autonomous Region, to develop a 150 megawatt on-grid solar power project with a budgeted total investment of RMB4.8 billion (approximately $ 706 million). The project, which is subject to a outlook study and government permits and approvals, has a four-year, four-phase construction period that is expected to begin in 2010.
ReneSola Ltd. announced that for third quarter of 2009, it expects revenue to increase by 60% to 70% sequentially. For fiscal 2009, it has reaffirmed its guidance and expects revenue to be in the range of $500 to $550 million. According to Reuters Estimates, analysts were expecting the Company to report revenue of $517 million for fiscal 2009.
ReneSola Ltd. announced the official opening of its 3,000 metric tonne silicon manufacturing facility and the successful output of the first batch of polysilicon from stage 1 of the plant in Meishan city, Sichuan province, China.
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