The company will provide 15 kW of soalr modules for the offgrid project which also doubles up as a test-bed for offgrid solutions. ReneSola's modules will arrive in Medina early this year and will charge the plant's battery.
Commenting on the contract win, Xianshou Li, founder and chief executive officer of ReneSola said, "An off-grid solution, particularly one with PV modules powering an energy storage system, can be far more cost-effective than delivering electricity to a small area by conventional means. At the same time, a PV solution can typically be completed faster than grid-connected projects, which provides additional incentive for developers to go with an offgrid PV alternative. We believe such offgrid solutions will find a niche in the PV market, particularly in emerging markets like Africa, South America and the Middle East, where we are already seeing demand. With our new presence in Saudi Arabia, we will continue to work to expand our business and bring innovative PV solutions to the region."
GTM Research had released a report stating that Saudi Arabia will have the highest demand and will probably be the region's first gigawatt-scale market by 2015. Nearly 70% of the demand is expected to come from Saudia Arabia and its K.A. CARE program.
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