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ReneSola Ltd. has signed a RMB 320 million (approximately $50.9 million) 15-year loan agreement with China Development Bank.

"This funding will support our operations in China, a market in which we saw encouraging growth in the fourth quarter of last year," notes Xianshou Li, CEO of ReneSola. "Our ability to secure additional capital amid weak macro conditions and a tight credit environment speaks to our healthy overall financial position, as well as to the ability of our management team."

The company did not provide any further details on the terms of the loan.



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