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ReneSola expands into Canada, Mexico

Dec. 02, 2014 3:51 PM ETEmeren Group Ltd (SOL) StockSOLBy: Eric Jhonsa, SA News Editor
  • ReneSola (SOL +1.6%) has "opened new offices and warehouse facilities in Mexico City, Mexico and Mississauga, Ontario in Canada."
  • The expansion into the United States' northern and southern neighbors follows a Q3 in which the U.S. accounted for just 8% of ReneSola's module shipments, down from 30.8% a year ago thanks to the impact of solar tariffs.
  • ReneSola notes Mexico is aiming to get 35% of its energy from renewable sources by 2024 (up from 4% in 2012), and that Canada's solar market is "mainly concentrated in Ontario" thanks to a local feed-in tariff program.

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