ReneSola (SOL) Announces 3 Yr, 600MW Solar Supply Deal, Shares Surge 10%

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09:07:45 am on February 11, 2010

ReneSola (SOL) is announcing a big solar order this morning.  Details are limited, but the company has received a 600MW OEM deal to supply solar modules over the next 3 years to a major global solar company.  Shipments will be spread evenly at 200MW per year.

CEO Li Xianshou commented: “Our first major solar module OEM contract reflects the exceptional value inherent in our cost-competitive solar wafer and solar module OEM manufacturing platform.  Our customers are increasingly recognizing the benefits of including our cost-effective solar solutions as important components in their production processes. We plan to leverage our module OEM capabilities to significantly strengthen and expand customer relationships with key industry players and further increase our solar wafer sales. We believe this OEM deal underscores our vision to lead the world in solar wafer production.”

Shares are surging this morning, up nearly 10% premarket.

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