Roth Capital analyst Philip Shen downgraded ReneSola to Sell from Neutral as the company continues to be "highly" exposed to upstream ASP weakness, which the analyst expects to put pressure on its margins and earnings ahead and potentially further stretch the company's balance sheet. Shen believes the softening demand in major solar markets and increasing cell/module capacity in 2016 is creating an oversupply situation that could persist for 1.5 years. He lowered his price target on the shares to $1 from $1.45.

Emeren announced the successful co-development agreement of 199 MW of Battery Storage Projects in two regions of Southern Italy with Nuveen Infrastructure, rebranded from Glennmont Partners, one of the world's largest fund managers investing in clean energy. As previously announced, this agreement marks the final stage in the portfolio collaboration between Emeren and Nuveen, achieving a total power capacity of 354 MWp. The partnership will involve Nuveen and Emeren jointly developing two additional stand-alone Battery Storage Projects in the Apulia region of Southern Italy. These projects are scheduled to enter the construction stage in mid 2025 and begin operations in early 2026.