Risen Energy to Supply 480MW 210mm Bi-Facial modules to US PV project

2021-06-18

Ninghai China―June 15th, 2021 ―Risen Energy America Inc, a subsidiary of Risen Energy., Ltd (Stock Code 300118) a leading global solar module manufacturer and Global Energy Generation LLC (Doral LLC), a leading developer of renewable energy projects, primarily in the Midwest and Mid-Atlantic regions, announced today that they have signed a 480MW high-efficiency bi-facial module supply agreement for the first phase of the Mammoth Solar project in Indiana.

Mammoth North, a 480 megawatt direct current (MWdc) solar energy project, is the first phase of the 1.65 gigawatt direct current (GWdc) Mammoth project being developed by Doral LLC. The Mammoth solar project covers more than 12,000 acres in Starke and Pulaski counties in northern Indiana.The PV project is on schedule to be interconnected to the grid in 2023,under a Power Purchase Agreement(PPA) with AEP Energy Partners, Inc., a subsidiary of American Electric Power (Nasdaq: AEP) and one of the largest electric energy wholesale and retail suppliers in the U.S. As the solar module supplier to this project, Risen Energy will supply 540W and 545W Bi-Facialsolar modules manufactured and assembled in their state-of-the-art facility in Malaysia. The solar modules, with multiple advantages in terms of high output power, high generation efficiency, anti-shadow effect and high temperature resistance, are expected to have one of the lowest levelized costs of energy in the Industry. To ensure that the project can be completed on schedule, Risen Energy plans to deliver all solar modules by the end of 2022.

Jian Xie, Chairman of Risen Energy Group said, "The COVID-19 epidemic and multiple iterations of US trade tariff policy towards China's PV manufacturers since 2019 was not a hindrance to our strategy of globalization. We have been keeping close relationships with U.S. partners and have been willing to provide better sustainable local serves to all our customers in the U.S.We are excited about the opportunity to partner with Global Energy Generation LLC (Doral LLC) to complete one of the largest solar installations in Midwest U.S. We are also working with Global Energy Generation LLC (Doral LLC) on their global projects portfolio where over six (6) gigawatts are under development. Bruce Zhu, Vice President of Risen Energy America said,” This is one more developed milestone to show Risen’s strategy in US market. It’s been a really perfect experience to work together with GEG(Doral LLC) team.”

Nick Cohen, President & CEO of Global Energy Generation LLC (Doral LLC) said: “We are excited to cooperate with a tier-1 supplier such as Risen on this project. Risen very smartly created a diversified global supply chain that proved its durability during COVID.Their technology is impressive. The panels and parts come from all over the world where, in our case, it is assembled in a state-of-the-art hi-tech plant in Malaysia. 500 Indiana construction jobs and $500 million in investment will uplift the Starke County economy and deliver millions in annual revenue to the County. Risen and Mammoth are working together to decarbonize the planet and revitalizing rural communities everywhere.”Brennan Downes, Vice President of Development, said: “Even though the COVID crisis challenged our ability to meet in-person for talks, both teams collaborated and worked diligently towards a single goal. It was a pleasure working with such a professional and diligent team at Risen.”

About Risen Energy (www.risenenergy.com)

Risen Energy Co., Ltd. was founded in 1986 and listed as a Chinese public company (Stock Code: 300118) in 2010. Risen Energy is one of the pioneers in solar industry and has committed to this industry as a R&D expert, an integrated manufacturer from wafers to modules, a manufacturer of off-grid systems, and also an investor, a developer and an EPC of PV projects. Aiming to deliver the green energy worldwide, Risen Energy is developing internationally with offices and sales networks in China, Germany, Australia, Mexico, India, Japan, USA and others. After years of efforts, it has reached a module production capacity of 14.1GW. While growing rapidly, Risen Energy keeps a stable pace with an average debt ratio at around 60% from 2011 to 2020.

About Doral LLC:

Doral LLC, the entrepreneurial platform of Doral Renewable Energy Resources Group Ltd (Doral Group) in the U.S, was founded by Doral Group and Clean Air Generation LLC. Doral LLC currently has over 3 GWdc of projects under development and 30,000 acres of land control, mainly in Midwest and Mid-Atlantic U.S. The management team of Doral LLC includes experienced multidisciplinary individuals who worked together for many years in the renewables industry in the US.

Doral Group is a publicly traded company on the Tel Aviv Stock Exchange in Israel (DORL) and is a global renewable energy leader, holding hundreds of long-term revenue generating renewable energy assets. With over 6.5 GWdc under development, Doral Group is active, inter alia, in Israel, Europe, and the United States. Doral Group is also emerging as a worldwide leader in the field of solar + storage solutions, following its win of Israel’s biggest solar + storage tenders to build approximately 750MW(dc) + 1,400MWh of storage facilities in Israel.

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