ReneSola Ltd (NYSE: SOL), a leading fully integrated solar project developer, today announced that it has closed its previously announced registered direct offering of 10,000,000 of American Depositary Shares (ADSs), each representing ten (10) ordinary shares, at a purchase price of $25.00 per ADS.

H.C. Wainwright & Co. acted as the exclusive placement agent for the offering. Roth Capital Partners and Raymond James acted as financial advisors in the offering.

The gross proceeds were $250.0 million before deducting placement agent fees and other offering expenses. The Company intends to use the net proceeds to expand its solar project pipeline (including combined solar/storage initiatives), to fund possible strategic acquisitions, and to meet general working capital needs.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor there any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

About ReneSola Power

ReneSola Power (NYSE: SOL) is a leading global solar project developer and operator. The Company focuses on solar power project development, construction management and project financing services. With local professional teams in more than 10 countries around the world, the business is spread across a number of regions where the solar power project markets are growing rapidly, and can sustain that growth due to improved clarity around government policies. The Company's strategy is to pursue high-margin project development opportunities in these profitable and growing markets; specifically, in the U.S. and Europe, where the Company has a market-leading position in several geographies, including Poland, Hungary, Minnesota and New York.