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ReneSola Ltd. (ADR) (NYSE:SOL) Extends Its Distribution Agreement

Boston, MA 09/22/2014 (wallstreetpr) – ReneSola Ltd. (ADR) (NYSE:SOL) announced a new distribution partnership with inverter manufacturer SolarMax. The association will allow the ReneSola to distribute SolarMax inverters in Australia. The new association is the extension of its existing distribution agreement in North America. Now, after North America, Australia will be the second region where ReneSola will distribute SolarMax inverters directly to the customers.

The strategy                            

As per the agreement, ReneSola will sell its solar panels along with solar inverters and accessories. The offer of solar panels makes a part of the premium package offered to commercial and residential customers. The inverters on sale are fully certified for use in New Zealand and Australia. SolarMax inverters are accredited by the Clean Energy Council (CEC).

The significance

The extended partnership is significant for ReneSola Ltd. (ADR) (NYSE:SOL) as a major part of its Australia’s revenues comes from the retail-oriented marketing and sales operations. It will expand the existing range of quality PV products, thereby offering better services to retail-oriented customers. It will enhance brand reputation of the company, and will open new means of revenue in Australia.

The future ahead

The one-stop-shop initiatives are significant as it differentiates ReneSola from its traditional Tier 1 PV competitors. The new agreement with SolarMax will allow ReneSola Ltd. (ADR) (NYSE:SOL) to offer a wide range of products to the company’s clients in Australia. Moreover, the products will service both the commercial as well as the residential customers.

The management view

Christoph von Bergen, the CEO of SolarMax, said that SolarMax is delighted to extend its partnership agreement with ReneSola. The partnership is significant for SolarMax too as the Swiss company can benefit from ReneSola Ltd. (ADR) (NYSE:SOL)’s sales channels established worldwide. It means that SolarMax can generate more revenue that in the end will help it to reach new customers in the market. The inverters will be available in a market where there is a huge demand resulting from growing need of solar installations in Australia.

Published by Lisa Ray

Lisa has a Bachelor of Arts in journalism from Purdue University and 3 years of experience in the publishing field.

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