Renesola, Zhongnan Group in $100 Million Investment Agreement

• Shanghai Headquartered ReneSola, which recebtly went across the 20 GW landmark in collective module sales, has actually revealed a USD 100 million tactical financial investment contract with Zhongnan Industry (a subsidiary of Zhongnan Holding Group).

The statement was made on March 31st at the main finalizing event of the Supply Chain Cooperation Agreement in between ReneSola Yixing Co., Ltd. as well as Zhongnan Industry (a subsidiary of Zhongnan Holding Group) which was kept in Yixing City in China.

The contract imagines a financial investment of $100 million by Zhongnan Industry to reinforce ReneSola's PV module production supply chain. The supply chain collaboration is prepared to start today, ie, April 1st 2020.

Mr. Sky Wang (CEO of ReneSola Yixing Co., Ltd.) as priced quote as claiming, "this tactical collaboration with Zhongnan Holding Group will certainly include worth to our supply chain and also boost our manufacturing capabilities while permitting us to concentrate a lot more on the technical developments in the remedies we supply to our valued clients."

Mr. Zheng Lei (CEO of Zhongnan Industry, a subsidiary of Zhongnan Holding Group) included, "we are certain that this collaboration with ReneSola, a leading firm of the solar sector, will certainly bring both people a brighter future."

For Renesola, established in 2005, the financial investment is anticipated to given essential gas to pish in advance on its strategies in 2020 and also past in the extremely affordable international market

Zhongnan Industry is a subsidiary of Zhongnan Holding Group as well as was founded in 2011. The team intends to develop a modern-day business controlled by its 2 core sectors, design building and construction and also social imagination.

Zhongnan Holding Group was founded in 1988, and also currently has greater than 80,000 staff members with 2 detailed business, Zhongnan Construction (SZ000961) as well as Zhongnan Panshi New Energy (871460 ). Zhongnan Holding Group is a leading 500 rated Chinese business whose complete sales quantity went beyond USD 40 billion in 2019.