Integrated PV manufacturer ReneSola has secured at least RMB 1 billion (US$145 million) in an annual credit facility from China Resources Leasing Co to support its downstream PV projects business.
ReneSola has a PV project pipeline of over 1GW at the end of the third quarter of 2016 and has a strategy of building and selling plants internationally and not specifically in China.
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Xianshou Li, Chairman and Chief Executive Officer of ReneSola, commented: “The annual credit facility will provide an important capital infusion enabling us to execute our downstream project development plan. We believe that getting this financial commitment from a high profile and successful firm such as China Resources validates the quality of our project pipeline. We expect project development to continue to drive our growth in 2017 and beyond.”