ReneSola has secured an RMB120 million or $18 million financing facility from China Kangfu International Leasing, an affiliate of State Power Investment Corporation (SPIC).
ReneSola will use the financing for the development of ReneSola’s 30 MW of solar distributed generation projects in Henan Province.
ReneSola CEO Xianshou Li said: “This facility reinforces our confidence in the enormous potential of China’s domestic distributed generation market. It also demonstrates the confidence that the capital markets put in our ability to successfully develop projects in this market.”