ReneSola Power Appoints Ramnath Iyer as a Director

Rhea-AI Summary

ReneSola Power (NYSE: SOL) announced on April 21, 2022, that Ke Chen has stepped down as a Director while remaining Chief Financial Officer. Ramnath Iyer, with extensive capital markets and ESG expertise, has been appointed to the Board effective April 20, 2022. His background in sustainable investing is expected to enhance the Company's commitment to corporate governance and environmental stewardship. The Company operates globally with a focus on high-margin solar project development in regions like the U.S. and Europe, aiming to leverage favorable government policies.

Positive

• Appointment of Ramnath Iyer expected to strengthen ESG and sustainability practices.
• ReneSola Power has a market-leading position in rapidly growing solar markets in the U.S. and Europe.

Negative

• Ke Chen's departure from the Board may raise concerns about continuity.

STAMFORD, Conn., April 21, 2022 /PRNewswire/ -- ReneSola Ltd ("ReneSola Power" or the "Company") (www.renesolapower.com) (NYSE: SOL), a leading fully integrated solar project developer, today announced that Ke Chen has stepped down as a Director of the Company and that it has appointed Ramnath Iyer, Head of ESG Asia of Invartis Consulting, to its Board of Directors effective April 20, 2022. Ke Chen will remain serving in the capacity of Chief Financial Officer. 

Mr. Iyer brings extensive capital markets experience from his prior roles as portfolio manager to multiple international asset management firms, and strategist role at investment banks. In addition, Mr. Iyer brings significant knowledge and expertise on sustainability, environmental, social, and governance (ESG) from his current role as the Head of ESG Asia at Invartis Consulting where he helps institutional investors and buyside funds integrate ESG and sustainability practices into their investing processes. 

"We are pleased to welcome Ramnath as our fellow director", Said Himanshu Shah. "His extensive experience in ESG complements our Board's efforts to strengthen our sustainability practices around environmental stewardship, social responsibility, and corporate governance. We look forward to his many contributions."

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 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. For more information, please visit www.renesolapower.com.

 

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SOURCE ReneSola Ltd.

FAQ

Who is the new director appointed to ReneSola Power?

Ramnath Iyer has been appointed as a director of ReneSola Power.

What is Ramnath Iyer's background?

Ramnath Iyer has extensive capital markets experience and expertise in ESG from his role at Invartis Consulting.

When did the management change at ReneSola Power occur?

The management change took effect on April 20, 2022.

How might Ramnath Iyer's appointment affect ReneSola Power's operations?

His expertise in ESG is expected to enhance the Company's sustainability practices and corporate governance.

What position does Ke Chen retain at ReneSola Power after stepping down?

Ke Chen will continue to serve as Chief Financial Officer.