The ReneSola-branded modules will be manufactured by subsidiary Solairedirect Technologies (Pty) Ltd. Under the agreement, Solairedirect will also purchase 20 MW of ReneSolas photovoltaic modules for use in South African projects, and 34 MW for use internationally.
In a statement released, Solairedirect has said it intends to double its current manufacturing capacity "as early as this year." If that happens, the two companies have not ruled out further manufacturing cooperation.
Commenting, Ryan Hammond, MD of Solairedirect’s South-African based Independent Power Producer subsidiary, said that the agreement will "likely lead to the expansion of production capacity at Solairedirect Technologies, creating more jobs in the process."
ReneSola CEO, Xianshou Li added, "We have partnered with Solairedirect to benefit from its module manufacturing capacity and strong market presence in South Africa, as well as to secure low costs through the tolling agreement We look forward to developing a long-term relationship with Solairedirect."
Solairedirect was recently awarded preferred bidder status by for two photovoltaic projects by South African Energy Minister Dipuo Peters.
No further details were disclosed.