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ReneSola And Solairedirect Sign 120 MW Solar Module Tolling Agreement

The company was founded in 2006 with the mission of making solar power accessible to all and fully competitive with other sources of energy. It has developed a distinctive model based on innovative engineering to industrialize processes and generate cost-effective and grid-compatible solar power: project development and local government partnerships, module production and systems integration, design and EPC (Engineering, Procurement, Construction) of ground-mounted and rooftop systems, operation and maintenance, structured financing and legal engineering, power sales and smart grid services.

Solairedirect's business model is based on developing a broad ecosystem of partners in various fields to achieve, on a shared value basis, a broader goal: the development of a low cost and high social value solar power. To maximize the benefit of the project, target partners include communities and local governments (such as with Ester –Electricite Solaire des Territoires – program in France) and utilities, to demonstrate a collaborative approach that complements circuit-level asset management to promote reliability, and that supports related utility programs such as energy efficiency and demand response.

The company has a presence in France, South Africa, India, Chile, Thailand, China and the USA. Solairedirect has 300 employees and a total 120 MW (solar parks and rooftops). In 2011 it had revenues of 213 M€ and net profit of 19 M€.

Safe Harbor Statement

This press release contains statements that constitute ''forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Whenever you read a statement that is not simply a statement of historical fact (such as when the Company describes what it "believes," "expects" or "anticipates" will occur, what "will" or "could" happen, and other similar statements), you must remember that the Company's expectations may not be correct, even though it believes that they are reasonable. The Company does not guarantee that the forward-looking statements will happen as described or that they will happen at all. Further information regarding risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements is included in the Company's filings with the U.S. Securities and Exchange Commission, including the Company's annual report on Form 20-F. The Company undertakes no obligation, beyond that required by law, to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made, even though the Company's situation may change in the future.

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