ReneSola, a world reputed Solar PV Module manufacturer & Zhongnan Industry, a well-known conglomerate in China, has decided to enter into a joint venture (JV) to set up an additional solar PV manufacturing facility of annual production capacity of 3 GW in Nantong, Jiangsu Province of China.
The new facility will be focusing on the commercialization of new technologies in the Solar PV modules. The new manufacturing will add 3GW of additional capacity to ReneSola’s existing 3.65 GW Solar PV manufacturing portfolio. The cooperation between ReneSola & Zhongnan Industry is based on the long term commitments and a common vision to make clean energy more available & affordable worldwide.
Sky Wang, CEO of ReneSola Yixing, said that this “new venture will add more value to our supply chain and; will make the ReneSola modules more accessible and affordable for the customers worldwide and will further support our expansion plans in the new global markets. The new manufacturing unit will start production by the end of 2020.”
Zheng Lei, CEO of Zhongnan Industry, a subsidiary of Zhongnan Holding Group, said that “Zhongnan attaches great importance to the green new energy market. China is the world’s largest photovoltaic module manufacturing center with huge potential. We hope to achieve a win-win situation through all-round cooperation with Renesola.”
ReneSola since its inception in 2005 has supplied more than 20 GW of cumulative SPV module capacity worldwide and has benefitted from a large number of customers ranging from a small rooftop owner in Australia or the US to a large solar farm developer in the EU or India.
Last month, we had reported that ReneSola and Avenston had signed a long-term partnership agreement for collaboration in Ukraine and other nearby countries. According to the Partnership, Evanston will market and sell ReneSola’s high quality and high-efficiency solar PV modules in the region exclusively, and both the companies also agreed to explore other project development related opportunities in Ukraine at a right time.