ReneSola secures RMB800 loan for Sichuan polysilicon production facility


ReneSola Ltd. announced that its wholly owned subsidiary, Sichuan ReneSola Material Co. Ltd., has signed a RMB800 million (about US$117 million) 5-year project loan agreement with China Construction Bank, Sichuan Branch. This loan will contribute to the funding of construction of a polysilicon manufacturing facility in Meishan, Sichuan province and will provide ReneSola with a steady, inexpensive supply of polysilicon.

“The agreement, combined with previously acquired financing, provides ReneSola with approximately 90% of the capital necessary to fund the project to completion,” stated Charles Bai, ReneSola’s chief financial officer.

ReneSola expects to begin the first phase of pilot production at the Sichuan facility late in the second quarter of 2009 and the second phase by the end of the third quarter of 2009. Each of the two phases will have a capacity of 1,500MT of polysilicon.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Read Next

June 14, 2024
Edify Energy has proposed a 200MW solar PV farm near the newly rebuilt Callide coal-fired power station in Central Queensland, Australia.
June 13, 2024
A new report from Ember Climate has found that cumulative global solar manufacturing capacity will almost double solar deployment by 2030.
June 13, 2024
Spanish tracker manufacturer Soltec has launched a new floating tracker designed for inland water bodies such as reservoirs and ponds.
June 13, 2024
US solar technology company Swift Solar has secured US$27 million to develop its perovskite tandem solar cell manufacturing.
June 13, 2024
Tongwei has continued to increase its investment in HJT cell and module technology and built a green supply chain for its PV cells.
June 13, 2024
The European Bank for Reconstruction and Development (EBRD) has formed a joint venture with German energy company Goldbeck Solar Investment to develop up to 500MW of solar PV in Ukraine.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
July 2, 2024
Athens, Greece
Solar Media Events
July 9, 2024
Sands Expo and Convention Centre, Singapore
Solar Media Events
September 24, 2024
Warsaw, Poland
Solar Media Events
September 24, 2024
Singapore, Asia