ReneSola Power Awarded 38MW of Solar Projects in Poland's Electricity Auction

• ReneSola Ltd (NYSE: SOL), a leading completely integrated solar project developer, today announced that it was awarded 38 solar energy projects in Poland with capacity of 1 MW for each.

All of these 38 projects are under Poland's Contract for Difference (CFD) regimen as well as eligible for a 15-year guaranteed tariff. Our winning bid cost balanced about USD$ 70/MWh, compared to the auction costs that ranged in between USD$ 51/MWh and USD$ 73/MWh. The projects are expected to be connected to the grid within the next 2 years.

The Energy Regulation Office in Poland held the country's most current round of solar power public auction on December 3, 2020.

Mr. Josef Kastner, CEO of ReneSola Power's European Region, commented, "We are delighted to have been awarded the energy projects in Poland as they stand for an enhancement to our varied portfolio of solar projects across the globe. Importantly, this win once again validates our competence to supply trusted, cost-competitive dispersed power to offer the expanding power need in the area. We anticipate further supporting solar implementation in Poland as well as various other markets."

Mr. Yumin Liu, Chief Executive Officer of ReneSola Power, included, "Despite ongoing tough macro problems, our European team remains to perform on our strategy. Particularly, we have actually made solid progress in increasing our project portfolio, and also we remain to strengthen our leading position in the solar market in Poland. We are proud of our team, as well as believe we are well-positioned to drive more growth in the years ahead."