ReneSola boost OEM strategy with acquisition of Dynamic Green Energy

September 23, 2009
Facebook
Twitter
LinkedIn
Reddit
Email

ReneSola is increasing its capacity to offer PV OEM services and further its efforts to become a fully integrated PV manufacturer with the acquisition of China-based Dynamic Green Energy. The mainly share based transaction has been approved both companies’ boards of directors. Jiawei Solarchina was a subsidiary of Dynamic Green Energy, which is currently partnering with Evergreen Solar on a 100MW plant in China. GE Capital Asia Pacific was also a major investor in Dynamic Green Energy.

Dynamic Green owns and operates ingot and wafer manufacturing facilities in Sanhe, Hebei province, as well as an upgraded metallurgical grade silicon manufacturing facility in Guiyang, Guizhou province. Its module and cell manufacturing facilities are in Wuhan, Hubei province and OEM facilities in Shenzhen, Guangdong province.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

“ReneSola’s acquisition of Dynamic Green will significantly increase our OEM capabilities and will accelerate the implementation of our strategy to become a fully integrated solar company,” commented Xianshou Li, ReneSola’s Chief Executive Officer. “The acquisition will enhance our competitiveness by enhancing our product quality, provide cost synergies and expand our strategic relationships with global key industry players. We believe the strategic benefits of uniting two highly complementary companies will create additional shareholder value through earnings accretion and access to new growth opportunities.”

All the long-term contracts for OEM services, which include Evergreen and SunPower will continue.

Mr. Jay Peir, SunPower’s Vice President of Corporate Development, added, “Jiawei has been a key long standing partner to SunPower since 2004. This relationship has enabled us to combine market leading technology with high quality, low cost manufacturing. We believe this acquisition will result in a stronger partner with the ability to grow and meet our continuing needs.”

ReneSola said in a separate statement that its third quarter 2009 revenue outlook to be in the range of US$130 million to US$140 million and expects its gross margin to be similar to that of its second quarter 2009. Revenue outlook for 2009 is said to be in the range of US$470 million to US$500 million and maintains its prior product shipment outlook for 2009 of 450MW to 500MW.

Read Next

October 15, 2025
Wood Mackenzie has warned of a supply bottleneck as the renewable energy shift drives a spike in global copper demand over the next decade.
October 15, 2025
The average price of a solar PPA signed in North America increased 4% between the second and third quarters of 2025, according to LevelTen.
October 15, 2025
A report by IRENA and others has highlighted the need for yearly renewable energy deployments to almost double between now and 2030.
October 15, 2025
Independent power producer (IPP) Geronimo has begun construction on it’s150MW solar project in Illinois and commissioned the 125MW PV project in Michigan.
October 15, 2025
Ciel & Terre has launched a new floating PV structure designed to address the increasingly large scale of floating solar projects.
October 15, 2025
Indian module manufacturer Saatvik Green Energy, through its subsidiary Saatvik Solar Industries, has secured solar PV module orders worth INR6.89 billion (US$78 million).

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK