ReneSola Signs Agreement to Sell 15MW of Projects in Hungary

CHANGCHUN, China, January. 9, 2019 /PVTIME/ --  ReneSola Ltd ("ReneSola"
or the "Company") ( (NYSE: SOL), a leading fully
integrated solar project developer, today announced that it had entered into an
agreement to sell a portfolio of projects located in Hungary
to Obton, a leading international solar investment company. This deal
builds upon the earlier sale of 13.9 MW of projects in Hungary,
thus firmly establishing the Company's business momentum in the region.  

The portfolio comprises 25 solar plants under development
in three locations, with a combined capacity of 15MW. These 25 small-scale
projects are qualified under the Hungarian 25-year CAT feed-in tariff scheme.

Mr. Anders Marcus, CEO and Co-founder of
the Obton Group, said, "This is our second collaboration with ReneSola,
which is proving to be a strong partner. Hungary-based
projects are part of our expansion strategy, and we are committed to becoming a
major contributor to the renewable energy transition in Hungary
for years to come."

Mr. Josef Kastner, CEO of ReneSola
European Region, commented, "Obton is an outstanding partner for us, and
we are thrilled to complete our second sale to them. We look forward to
future collaboration in Hungary
and other regions of Europe."

ReneSola CEO Yumin
Liu added, "Over the past two years, ReneSola
has demonstrated its skill in monetizing projects across Europe.
Hungary is an
important market for solar power in the EU, and this second sale cements our
position as a key player in the country. We are proud of our ability to execute
in Hungary, and
believe Europe will
contribute to our accelerating and profitable growth in the quarters