ReneSola Power Announces First Quarter 2021 Financial Results

Rhea-AI Summary

ReneSola Power (NYSE: SOL) reported a first quarter revenue of $22.8 million, marking a significant 39% increase from the previous quarter. This achievement marks the company's fourth consecutive quarter of profitability. The increase in revenue reflects the company's strategic focus on high-margin solar project development across growing markets in the U.S. and Europe. A conference call is scheduled for May 25, 2021 at 4:30 p.m. ET to discuss these results and future prospects.

Positive

• Revenue growth of 39% sequentially, reaching $22.8 million.
• Achieved profitability for the fourth consecutive quarter.

Negative

• None.

-- Revenue of $22.8 million, up 39% sequentially

-- Fourth consecutive quarter of profitability

STAMFORD, Conn, May 25, 2021 /PRNewswire/ -- ReneSola Ltd ("ReneSola Power" or the "Company") (www.renesolapower.com) (NYSE: SOL), a leading fully integrated solar project developer, today announced its unaudited financial results for the first quarter ended March 31, 2021. ReneSola Power's first quarter 2021 financial results and management commentary can be found by accessing the Company's shareholder letter on the quarterly results page of the Investor Relations section of ReneSola Power's website at: http://ir.renesolapower.com.

ReneSola Power will hold a conference call today to discuss results and to provide an update on the business.

Conference Call Details

ReneSola Power's management will hold a conference call today, May 25, 2021 at 4:30 p.m. U.S. Eastern Time (4:30 a.m. China Standard Time on Wednesday, May 26, 2021) to discuss financial results. 

Please register in advance to join the conference call using the link provided below and dial in 10 minutes before the call is scheduled to begin. Conference call access information will be provided upon registration.

Participant Online Registration: http://apac.directeventreg.com/registration/event/8158589

A replay of the conference call may be accessed by phone at the following numbers until June 2, 2021. To access the replay, please reference the conference ID 8158589.

	Phone Number	Toll-Free Number
United States	+1 (646) 254-3697	+1 (855) 452-5696
Hong Kong	+852 3051-2780	+852 8009-63117
Mainland China	+86 (800) 870-0206 +86 (400) 602-2065
Other International	+61 (2) 8199-0299

A webcast of the conference call will be available on the ReneSola Power website at http://ir.renesolapower.com.

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.

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SOURCE ReneSola Ltd.

FAQ

What were ReneSola Power's first quarter 2021 financial results?

ReneSola Power reported a revenue of $22.8 million, a 39% increase sequentially, marking its fourth consecutive profitable quarter.

When is the conference call for ReneSola Power's Q1 results?

The conference call is scheduled for May 25, 2021, at 4:30 p.m. ET.

What is the stock symbol for ReneSola Power?

The stock symbol for ReneSola Power is SOL.

What markets is ReneSola Power focusing on for growth?

ReneSola Power is focusing on solar project development in the U.S. and Europe, particularly in countries like Poland, Hungary, Minnesota, and New York.