ReneSola, the Chinese tier one PV manufacturer, has announced that it will supply 420MW of modules to an unnamed project developer in Japan for use in 10 PV plant projects. Delivery will begin this month, with the full complement of modules to be delivered by December 2015.
The company will supply its Virtus II 300W 72-cell high efficiency polycrystalline PV panels to the 10 projects, all of which are ground-mounted and located in mountainous areas of Japan. The plants will supply nearby residential areas with power.
Although financial details of the deal have not been revealed, the size of the order is expected to be a significant boost for ReneSola, which suffered a fall in share price when the company closed a polysilicon plant in China at the beginning of December 2013. The company also reported recently that third quarter shipments for 2013 were at record levels and a few days ago announced a deal to sell 60MW of plants in China to Jiangsu Akcome Solar Science & Technology.
RenSola chief executive officer Xianshou Li said that the deal would help the company to grow its presence in Japan, reaffirming that Japan was one of its target markets.
“Our local sales office is supporting our growth amidst the increasing demand for solar products in Japan,” Li said.
The latest deal appears to be further indication that unlike many other Chinese PV manufacturers that have favoured the expansion of downstream operations at the expense of manufacturing, ReneSola will continue to focus on upstream activities.