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ReneSola Rolls Out Shipments of Its New Multicrystalline Virtus Wafer and Module Lines

China July 13, 2011 Europe

http://photos.prnewswire.com/prnh/20080506/CNTU030

January 2011

The 54.8 MW of Virtus wafer shipments comprised approximately 22.7 MW of V-Grade Virtus wafers and 32.1 MW of M-Grade Virtus wafers, while the 20 MW of Virtus Module shipments fully comprised of V-Grade Virtus wafers.

ReneSola is currently in the process of applying for 10 patents related to the Virtus wafer and module, and is also applying for trademark protection in several countries.

Mr. Xianshou Li, ReneSola’s chief executive officer, commented, "The dedicated work of our sales and manufacturing teams has allowed us to lead the industry as the first solar company to mass produce this advanced multicrystalline wafer technology. The Virtus wafer’s high conversion efficiency and relatively low cost has attracted a wealth of interest among cell manufacturing companies. Our V-Grade Virtus wafer, which achieves a conversion efficiency rate more than 1% higher than the industry standard, has proved a worthy substitute for monocrystalline wafers with its low cost, while our M-Grade Virtus wafer’s conversion efficiency is superior to the average multicrystalline wafer by up to 0.5%."

Mr. Li continued, "We’ve started initial shipments to our top European customers, some of whom have already requested additional shipments, and we have received excellent feedback. As we continue to experience strong demand from customers, we plan to purchase additional manufacturing equipment to increase our Virtus wafer capacity towards 1.8 GW by the end of 2011, at which time we expect the Virtus wafer to have replaced all our other multicrystalline wafers.  We will also discontinue approximately 200 MW of monocrystalline wafer production, increasing our focus on multicrystalline wafers and boosting our core wafer business and growing module business."

About ReneSola

China

Safe Harbor Statement

This press release contains statements that constitute ”forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Whenever you read a statement that is not simply a statement of historical fact (such as when the Company describes what it "believes," "expects" or "anticipates" will occur, what "will" or "could" happen, and other similar statements), you must remember that the Company’s expectations may not be correct, even though it believes that they are reasonable. The Company does not guarantee that the forward-looking statements will happen as described or that they will happen at all. Further information regarding risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements is included in the Company’s filings with the U.S. Securities and Exchange Commission, including the Company’s annual report on Form 20-F. The Company undertakes no obligation, beyond that required by law, to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made, even though the Company’s situation may change in the future.

For investor and media inquiries, please contact:

In China:

Mr. Tony Hung

ReneSola Investor Relations

Tel: +86-0573-8473-9011

Email: ir @renesola.com

Mr. Derek Mitchell

Ogilvy Financial, Beijing

Tel: +86- 10- 8520-6284

Email: [email protected]

In the United States:

Ms. Jessica Barist Cohen

Ogilvy Financial, New York

Tel: +1-646-460-9989

Email: [email protected]

SOURCE ReneSola Ltd.

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