ReneSola Modules for New Mexico Farm - Analyst Blog
17 April 2013 - 6:10PM
Zacks
ReneSola Ltd. (SOL) has entered into a contract
with S&C Electric Company ("S&C") to provide 250-watt (“W”)
high-efficiency polycrystalline solar photovoltaic (“PV”)
modules.
The 250W polycrystalline modules also known as Virtus II modules
feature a high module conversion efficiency. It is a unique
combination of high quality and efficiency. These modules carry a
mechanical load capability of up to 5400 Pascal. Also, they abide
by existing International Electro Technical Commission
certifications and Underwriters Laboratories listings.
Per the contract, ReneSola will supply 7,200 solar PV modules to
S&C. Chicago-based S&C Electric Company provides equipment
and services for electric power systems. It will utilize these
modules for a solar project it plans to build in Roswell, New
Mexico this year.
In order to comply with stringent environmental legislations, most
energy producers are moving towards a solar landscape. The New
Mexico Renewable Portfolio Standard calls for 20% renewable energy
by 2020. This project leveraging world class Renesola modules will
help the state to achieve this target.
Renesola has a solid hold on its supply chain. Moreover, the
company has indicated that it intends to continue its partnership
with project developers who are building projects that have special
requirements like some specific kind of module and are on a tight
schedule. To this end, ReneSola recently agreed to provide 300W
high-efficiency Virtus II 72-cell polycrystalline solar modules to
Strata Solar, LLC ("Strata Solar"). Strata Solar will utilize the
modules in five 6.5-megawatt ("MW") solar farms in North
Carolina.
Of late, ReneSola has fine-tuned, diversified and enlarged its
product mix. Moreover, the company is also focused on cost
reductions by reducing its module and wafer processing costs.
However, the countervailing duties and anti-dumping duties imposed
in the U.S. are a matter of concern for Chinese companies like
ReneSola, JinkoSolar Holding Co., Ltd. (JKS) and
LDK Solar Co., Ltd. (LDK). ReneSola presently
retains a short-term Zacks Rank #2 (Buy). STR Holdings,
Inc. (STRI) with a Zacks Rank #2 (Buy) may also be
considered in the alternative energy space.
JINKOSOLAR HLDG (JKS): Free Stock Analysis Report
LDK SOLAR CO (LDK): Free Stock Analysis Report
RENESOLA LT-ADR (SOL): Free Stock Analysis Report
STR HOLDINGS (STRI): Free Stock Analysis Report
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