ReneSola Power and MP Sicily Developments to Co-develop Solar Projects in Italy

STAMFORD,Conn.,Oct. 25,2021 -- ReneSola Ltd ("ReneSola Power" or the "Company") (www.renesolapower.com) (NYSE: SOL),a leading fully integrated solar project developer,today announced the signing of a strategic partnership agreement with Terra Aurea Gela S.r.l,an Italian,based project developer specialized in the development of renewable energy power plants in Italy,to co-develop ground-mounted solar projects in Italy,with a pipeline of several transactions scheduled for 2022.

As part of the agreement,ReneSola Power and Terra Aurea Gela will develop projects in a broad range of sizes across the country. The two companies expect the collaboration to further strengthen their presence in the Italian market.

Mr. Josef Kastner,CEO of ReneSola Power European Region,commented,"We are excited to work together with Terra Aurea Gela S.r.l. ReneSola Power is committed to accelerating solar development in Europe,and together with Terra Aurea Gela,we expect to bring a range of high-quality projects to the Italian market,driving further growth in the region."

Mr. Yumin Liu,ReneSola Power Chief Executive Officer,added,"The co-development agreement with Terra Aurea Gela aligns with our growth strategy,enabling us to expand our project development activities in Italy. We look forward to pursuing other opportunities to co-develop projects across Europe."

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.

About MP Sicily Developments S.r.l

Terra Aurea Gela S.r.l is represented by Imbergamo Salvatore who has developed many solar sites in the Italian market over the past 10 years. The company works closely with MP Sicily Development S.r.l,which is co-owned by Imbergamo Salvatore and Manfred Messner. MP Sicily Development deals with the design and construction of electrical systems from renewable sources,mainly photovoltaic and agrivoltaic parks. MP Sicily Developments operates in Sicily with a team of technical experts,designers and installers. At the moment the company is developing solar assets on behalf of a number of international standing companies.

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