ReneSola Power clears $ 50 million share buyback


STAMFORD, Connecticut., December 6, 2021 / PRNewswire / – ReneSola Ltd. (“ReneSola Power” or the “Company”) ( (NYSE: SOL), a leading developer of fully integrated solar projects, today announced that its board of directors has authorized the redemption up to $ 50 million outstanding US Depository Shares (“ADS”) of the Company. The authorization takes effect immediately and does not expire. As of that date, the company had approximately 70 million ADS in circulation.

Chairman and CEO of ReneSola Power Yumin Liu said: “This share buyback authorization demonstrates the confidence of our Board of Directors and our management team in the strength of our company and attractive growth prospects. We believe that valuing our stocks can represent exceptional value from time to time, and this authorization allows us to make a smart investment in ourselves if market conditions warrant. “

ReneSola Power may purchase ADS from time to time at the discretion of management through open market purchases, privately traded transactions, block transactions, accelerated or structured share buyback programs, or other ways. The manner, timing, price and amount of any transaction will be subject to the discretion of the Company and may be based on market conditions, regulatory requirements and alternative opportunities that ReneSola Power may have for use or l investment of its capital.

About ReneSola Power

ReneSola Power (NYSE: SOL) is a leading global developer and operator of solar projects. The Company focuses on the development of solar energy projects, construction management and project finance services. With local professional teams in more than 10 countries around the world, the company is spread across a number of regions where the markets for solar energy projects are growing rapidly and can support this growth through improved clarity of government policies. The Company’s strategy consists of seeking high-margin project development opportunities in these profitable and growing markets; in particular, in the United States and Europe, where the Company occupies a market leadership position in several geographies, including Poland, Hungary, Minnesota and new York.

SOURCE ReneSola Ltd.

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