ReneSola (SOL) Gets $117 Million Loan From China Construction Bank

Posted by Tate Dwinnell | # |
11:56:30 am on January 27, 2009

ReneSola (SOL) announced it’s signed a 5 year loan agreement with China Construction Bank to fund the construction of ReneSola’s polysilicon production facility in Meishan, Sichuan.

“We are pleased to announce that we’ve secured additional financing for our Sichuan polysilicon manufacturing facility,” said Charles Bai, ReneSola’s chief financial officer. “The agreement, combined with previously acquired financing, provides ReneSola with approximately 90% of the capital necessary to fund the project to completion. Our ability to secure capital in a tight credit environment demonstrates confidence in the development and operation of our polysilicon facility and faith in our management team’s track record of delivering positive results.”

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