ReneSola (SOL) Announces 3 Yr, 600MW Solar Supply Deal

ReneSola (SOL) is announcing a big solar orderthis morning.  Details are limited, but the company has received a600MW OEM deal to supply solar modules over the next 3 years to a majorglobal solar company.  Shipments will be spread evenly at 200MW peryear.

CEO Li Xianshou commented: “Our first major solar module OEMcontract reflects the exceptional value inherent in ourcost-competitive solar wafer and solar module OEM manufacturingplatform.  Our customers are increasingly recognizing the benefits ofincluding our cost-effective solar solutions as important components intheir production processes. We plan to leverage our module OEMcapabilities to significantly strengthen and expand customerrelationships with key industry players and further increase our solarwafer sales. We believe this OEM deal underscores our vision to leadthe world in solar wafer production.”

Shares are surging this morning, up nearly 10% premarket.

ReneSola (SOL) Announces 3 Yr, 600MW Solar Supply Deal, Shares Surge 10%