ReneSola Ltd | PRNewswire — ReneSola Ltd stated that the European Commission has notified the Company regarding a potential compliance issue with the undertaking agreement, mainly due to the impracticality of monitoring the Company’s OEM producers and undertaking practice.
ReneSola has fully complied with the undertaking agreement and worked diligently with the European Commission to demonstrate its compliance with the practice of the undertaking agreement.
According to standard procedure, ReneSola has the opportunity of commenting and providing supporting evidence to the issues raised by the European Commission. The Company intends to fully cooperate with the process and address any concerns or misunderstanding.
“MIP shipments represent a small percentage of our total module shipments and have no significant impact on our ability to service our European customers, or on our 2015 forecast, as we leverage our global manufacturing network while looking to expand our solar project initiatives in Europe,” said Mr. Xianshou Li, chief executive officer of ReneSola.