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ReneSola Appoints President of China Division

Monday, March 26, 2012 5:54 AM


JIASHAN, China, March 26, 2012 /PRNewswire-Asia-FirstCall/ -- ReneSola Ltd ("ReneSola" or the "Company") (NYSE: SOL), a leading global manufacturer of solar products, today announced it has appointed Mr. Xiaoliang Liang as president of the Company's China division. In this newly-created position, Mr. Liang will head sales and systems development across China.

(Logo: http://photos.prnewswire.com/prnh/20080506/CNTU030)

ReneSola CEO Mr. Xianshou Li remarked, "While China leads the world in the number of solar panels exported, it lags behind many countries in terms of the number of solar panels installed. This is changing, however, and we believe the Chinese market has impressive growth prospects. In 2012, we believe the number of installations could reach 5 gigawatts ("GW"), compared to approximately 2 GW in 2011 and 1 GW in 2010. By 2015, the Chinese government expects China to reach 15 GW of solar installations, which would make China one of the largest solar markets in the world."

Mr. Li continued, "In anticipation of this growth, we have established a division focused solely on China, which will be headed by Xiaoliang Liang. His many years of experience in project development and renewable energy in China will help build our business domestically. We expect to increase the sales of our modules used in China through an on-the-ground business development team and improved sales and marketing efforts. We will rely on Xiaoliang's leadership in choosing successful solar projects for our modules. In addition, Xiaoliang will help support our global operations as we look to expand our presence in both developed and emerging solar markets."

Mr. Liang has a diverse business development and engineering background with over seven years developing renewable energy and electric power. Prior to joining ReneSola, he was the director of project development at AES China, where he led its wind power project development business and worked on hydro and thermal power project developments in China, from 2010 to 2011. From 2006 to 2010, he served as a business director at Gamesa Energy, where he led a team in developing more than 2 GW of wind farms in northern and eastern China. Mr. Liang also worked as an engineer at China International Water and Electric Corporation from 2003 to 2006. He holds a master's degree from North China University of Water Resources and Electric Power and a bachelor's degree from Tsinghua University.

About ReneSola

ReneSola is a leading global manufacturer of solar wafers and producer of solar power products based in China.


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