ReneSola Ltd ("ReneSola") (NYSE: SOL), a leading brand and technology provider of solar photovoltaic ("PV") products, today announced it has agreed to provide Silicon Bank Co., Ltd. ("Silicon Bank"), a Japan-based commodity trading company that focuses on semiconductor parts and materials, with 12 megawatts ("MW") of PV modules.
According to the terms of the agreement, ReneSola will deliver 12 MW of 250W monocrystalline modules to Silicon Bank in August and September of 2013 for a series of rooftop and ground-based projects. ReneSola expects to ship approximately 20 additional MW of PV modules to Silicon Bank in the near future.
Mr. Xianshou Li, ReneSola's chief executive officer, said, "We are pleased to provide Silicon Bank with our high-quality modules. This contract win reflects our steady growth in Japan's solar market, which we expect will become our third largest market after the United States and Europe. We hope to increase our business with Silicon Bank as we deliver high-efficiency PV products and household solutions to Japanese end users and increase our market share across emerging solar markets."