SHANGHAI --- ReneSola Ltd. has formed a strategic partnership with China Resources Leasing Co., Ltd., a subsidiary of China Resources (Holdings) Co., Ltd ("CR" or "China Resources Group"), a conglomerate registered in Hong Kong with seven key strategic business units and over 1,900 business entities. Under the terms of the partnership agreement, China Resources Leasing will provide ReneSola with an annual credit facility of no less than RMB 1 billion for the Company's solar downstream project development.
Xianshou Li, Chairman and Chief Executive Officer of ReneSola, commented: "We are excited to partner with China Resources. The annual credit facility will provide an important capital infusion enabling us to execute our downstream project development plan. We believe that getting this financial commitment from a high profile and successful firm such as China Resources validates the quality of our project pipeline. We expect project development to continue to drive our growth in 2017 and beyond."