ReneSola has sold a 40.13% stake in its Chinese subsidiary, Zhejiang ReneSola Investment, for RMB200m ($3.5m) to an unnamed investor. The company said it would use the money to expand production and invest more on research and development.
ReneSola has sold a 40.13% stake in its Chinese subsidiary, Zhejiang ReneSola Investment, for RMB200m ($3.5m) to an unnamed investor. ReneSola CEO Xianshou Li said the agreement would help the firm complete the 187 MW of distributed generation (DG) projects on its books, and achieve its target of between 350 MW and 400 MW of Chinese DG schemes by the end of the year.