Document:

Exhibit
4.26

    

    RMB
Loan Contract

    

    Contract
No: Jian Mei Gu Dai 2009001

    Type of
Loan: Fixed Asset Loans

    Borrower:
Sichuan ReneSola Silicon Material Co., Ltd.

    Domicile:
Al-Si Industrial Park , Xiuwen Town, Dongpo District, Meishan, Sichuan
Province

    Zip Code:
620020

    Legal
representative: Li Xianshou

    Fax:
0833-8566013

    Tel:
0833-8568566

    

    Lender:
Construction Bank of China Co., Ltd., Meishan Branch

    Domicile:
No. 119 Hongxing Road, Dongpo District, Meishan, Sichuan Province

    Zip Code:
620010

    Responsible
Person: Liang Yuping

    Fax:
0833-8113979

    Tel:
0833-8109135

    
      
         

      

      
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    The
Borrower applies to The Lender for the loan and The Lender desires to grant the
loan. Pursuant to the relevant laws and regulations, both parties here by enter
into this Contract after negotiation to observe mutually.

    

    Article 1
Loan Amount

    

    The total
amount The Borrower borrows from The Lender (in words): RMB eight hundred million
yuan.

    

    Article 2
Loan Purpose

    

    The
Borrower shall use the borrowing hereunder for the
construction of the 3000 tons per year polycrystalline silicon project located
in Al-Si Industrial Park in Meishan. Without the written
consent of The Lender, Party should not change the use of the
borrowing.

    

    Article 3
Loan Term

    

    The term
of the loan is 5 years, commencing from January 24th 2009 to
January 23rd
2014.

    

    Should
the loan term as specified in this Contract be found inconsistent with those as
recorded in the borrowing document (hereinafter referred to “loan certificate”),
the granting date as recorded in the loan certificate during first drawing
should prevail. The date of maturity as specified in the first clause under this
Article clause should be adjusted accordingly.

    

    The loan
certificate forms an integral part of this Contract and is of equal legal
effect.

    

    Article 4
Loan Interest Rate, Penalty Interest Rate, Interest Calculation and
Settlement

    

    1. Loan
Interest Rate

    The loan
interest rate under this Contract is a rate of interest per annum and adopts the
rate in Item (3) below:

    

    (1) Fixed
interest rate: _____%; this rate should remain unchanged during the loan
term

    (2) Fixed
interest rate: by _____ (upward/downward: choose one) of ____% on the basis of
the Basic interest rate of the value date;

    (3)
Floating interest rate: by upward
(upward/downward: choose one) of 15% on the basis of
the Basic interest rate of the value date; The rate is adjusted every twelve months
according to the basic interest rate of the adjustment date and the above-named
upward/downward percentage during the period from the value date though the date
of settlement of loan principal and interest. The interest rate adjustment date
shall be the corresponding date of the value date in the month of the
adjustment. Should there be no corresponding date of the value date in that
month, the last day of the month shall be the interest rate adjustment date
..

    
      
         

      

      
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    2.
Penalty Interest Rate

    (1) If
the Borrower fails to use the loan for the purpose as specified in this
Contract, the penalty interest rate shall be by 100% upward over the
loan interest rate; if the loan interest rate is adjusted as per Clause one Item
(3) of this Article, the penalty interest rate should be adjusted accordingly
based on the adjusted loan interest rate and the above-mentioned upward
percentage.

    

    (2)
Penalty interest rate for an overdue loan shall be by 50 % upward over the
loan interest rate; if the loan interest rate is adjusted as per Clause one Item
(3) of this Article,, the penalty interest rate should be adjusted accordingly
based on the adjusted loan interest rate and the above-mentioned upward
percentage.

    

    (3) In
case of concurrence of the overdue loan and the misappropriated loan, the
penalty interest and compound interest shall be applied with the higher rate.
..

    

    3. The
value date in this Article refers to the date of transferring the first
installment of the loan to the account designated by Party A.

    

    When the
first installment of the loan is released under the Contract, the basic interest
rate is the loan interest rate for the loan of the same level and the term
promulgated by People’s Bank of China on the value date. Henceforth, when the
loan interest rate is adjusted according to the above stipulation, the basic
interest rate is the loan interest rate for the loan of the same level and the
term promulgated by People’s Bank of China on the adjustment date. Should
People’s Bank of China cease to promulgates loan interest rates for the loan of
the same level and same term, the basic interest rate shall be the rate for the
loan of the same level and period as publicly recognized by the banking industry
or the prevailing rate for such loan otherwise agreed upon by the two
Parties.

    

    4. The
loan interest rate shall be calculated from the date on which the loan is
transferred to the account designated by Party A. The interest under this
Contract accrues on a daily basis, the daily rate equals the annual interest
rate divided by 360. If The Borrower fails to pay the interest on the interest
settlement date as per the Contract, a compound interest will be charged from
the following day.

    

    5.
Interest settlement

    (1) If
the loan  is applied with a fixed interest rate, the interest shall be
calculated according to the agreed rate. If the loan is applied with a floating
interest rate, the interest shall be thus calculated by the interest rate
determined for such   related period. Should there be several
times of interest rates floating  during one  interest
settlement period, the total interest at the settlement date shall be the sum
total of the interests calculated by the interest rate for each floating
period.

    

    (2) The
interest of the loan under this Contract shall be settled by the method in Item
1 as below:

    

    
      a.  
interest
settled on a monthly basis; settlement of interest on 20th day of
each month;

    

    
      b. 
interest
settled on a quarterly basis; settlement of interest on 20th day of
the last month of each quarter;

    

    
      c. 
other
methods (none).

    

    
      
         

      

      
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    Article 5
Loan Drawing

    1.
Drawning.  pre-conditions

    

    Unless
the Lender  waivers all or part of the following conditions, the
Lender shall be obliged to  grant the loan given that  all
conditions herein are satisfied and/or maintained to be satisfied :

    

    
      	
              1.

            	
              The
      Borrower has completed  the relevant approval, registration,
      delivery, insurance and other legally required procedures with regard to
      the loan under this Contract;

            

    

    
      	
              2.

            	
              The
      guarantee contract for the loan under this Contract (if any) has come into
      effect and will continue to be
effective;

            

    

    
      	
              3.

            	
              The
      Borrower has opened an bank account for the purpose of drawing and
      repayment according to Lender’s
requirements;

            

    

    
      	
              4.

            	
              The
      Borrower has not breached any clause of the Contract or incurred any
      circumstance that may impair the security of the creditor’s right The
      Lender is entitled to;

            

    

    
      	
              5.

            	
              The
      loan under this Contract is not prohibited or limited by laws, regulations
      or authorities;

            

    

    
      	
              6.

            	
              Other
      conditions: none

            

    

    

    2.
Drawing Plan

    

    The
Borrower shall draw the borrowing according to the plan in Item (2)
below:

    

    (1)
Drawing plan as follows:

    a.
___(mm)___(dd) ___(yy);  Amount _Blank__;

    b.
___(mm)___(dd) ___(yy);  Amount _Blank__;

    c.
___(mm)___(dd) ___(yy);  Amount _Blank__;

    d.
___(mm)___(dd) ___(yy);  Amount _Blank__;

    e.
___(mm)___(dd) ___(yy);  Amount _Blank__;

    f.
___(mm)___(dd) ___(yy);  Amount _Blank__;

    

    (2) The
date of the first installment drawing shall be January 24th, 2009
and the amount is four hundred and fifty millions. The remaining three hundred
and fifty millions will be granted after the balance own capital of The Borrower
has been invested.

    

    3. The
Borrower should draw the borrowing according to the Item (2) above and should
not advance or postpone or cancel the drawing unless without the written consent
of the Lender.

    

    4. Even
if the Borrower draws the borrowing in installments, the maturity of the loan
should be determined according to Article 3.

    

    Article 6
Repayment

    

    1.
Principle of Repayment

    
      
         

      

      
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    The
Borrower should repay the loan under this Contract in line with the following
principles:

    

    The
Lender is entitled to firstly use the repayment to reimburse the expenses which
should be borne by the Borrower according to this Contract but directly paid by
the Lender and the expenses incurred when exercising the creditor’s rights of
the Lender. The remaining repayment shall be used to repay the interest first
and then the principal to ensure the interest shall be paid together with the
principal. For the loans, the principal of which, or/and interest is overdue for
more than 90 days or the loan as otherwise stipulated by the laws or
regulations, the repayment shall be repaid in accordance with the principle that
the principal shall be paid before the interest after the reimbursement of the
above expenses.

    

    2.
Interest payment

    

    The
Borrower shall pay the due interest on the date of interest settlement. The date
of the first interest payment is the first date of interest settlement after the
loan granting. During last installment repayment, the interest shall be paid up
together with the principal.

    

    3.
Principal repayment plan

    

    The
principal repayment plan shall be determined by Item (1) and Item (2) of the
following methods:

    

    
      (1) 
Principal
repayment plan as follows:

    

    a. on or
before December 31st,
2010     Amount: one hundred million;

    b. on or
before December 31st,
2011     Amount: one hundred and eighty
million;

    c. on or
before December 31st,
2012     Amount: three hundred million;

    d. on or
before December 31st,
2013     Amount: two hundred and twenty
million.

    

    (2) a.
The Lender is entitled to adjust the above-mentioned repayment plan in
conjunction with the actual repayment status of the convertible bonds of the
holding company of the Borrower, the operating situations of the Borrower after
commissioning and the implementation of the electricity tariff.

    b. The
Lender is entitled to adjust the loan repayment plan according to the loan
drawing status..

    

    4.
Repayment method

    

    The
Borrower shall, before the stipulated repayment date, deposit enough founds
payable during such related period to the account designated by the Lender and
have the due amount transferred to the Lender automatically (the Lender is
entitled to draw fund from the designated account for loan repayment purpose) or
transfer the amount from other bank account of the Borrower on the stipulated
repayment date to repay the loan

    
      
         

      

      
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    5.
Pre-repayment

    

    If the
Borrower intends to pre-repay the loan amount, it shall file a written
application to the Lender 30 days prior to the proposed pre-repayment. With the
consent of the Lender, the Borrower can pre-repay the loan in part or
whole.

    

    The
interest for the pre-repaid loan amount shall be calculated on the actual days
for the loan and the agreed loan interest rate under this Contract.

    

    In the
case of the pre-repayment, the Lender is entitled to charge the Borrower a
compensation of an amount determined by Item 2 of the following
standards:

    

    
      	
              (1)

            	
              Compensation
      amount= pre-repaid principal amount ×number of months for
      pre-repayment×_____‰. If less than one full month, calculate as one
      month.

            

    

    

    
      	
              (2)

            	
              exemption from the
      compensation for
pre-repayment

            

    

    

    If the
loan is repaid in installments and the Borrower pre-repays part of the principal
the repayment should be made in an order reverse to the loan repay plan. After
the partial pre-repayment, the interest of the balance loan shall be calculated
by the agreed interest rate in accordance with the Contract

    

    Article 7
Rights and Obligations of the Borrower

    

    1. Rights
of the Borrower

    (1) The
Borrower is entitled to request the Lender to grant the loan according to the
Contract;

    (2) The
Borrower is entitled to use the loan for the agree purpose under the
Contract;

    (3) The
Borrower is entitled to apply for an extension of the loan term when meeting the
conditions required by the Lender;

    (4) The
Borrower is entitled to require the Lender to keep confidential the related
financial materials and business secrets unless otherwise regulated by the laws
and regulations or requested by the authorities or agreed upon by both
parties.

    (5) The
Borrower has the right to refuse the extortion of bribe by the Lender and its
staff and report the above acts and any acts of the Lender which violate the
related laws and regulations with regard to loan interest rate and service
charge rate and others.

    

    2.
Obligations of the Borrower

    (1) The
Borrower shall draw the loan, repay in full the loan principal and the related
interest and undertake the expenses as specified in this Contract;

    

    (2) The
Borrower shall provide the relevant financial statements and the business
operation material, including, but not limited to, the balance sheet for the
previous quarter, income statement for the period ended at the previous quarter
(income and expenditure sheet for the public institutions as the case may be)
which shall be provided within the 30th working
day of the first month of each quarter, and the cash flow statement for the
whole year in time after the year; and warrant that the documents and materials
provided are authentic, complete and valid and there is no fraud materials or
important financial facts concealed.

    
      
         

      

      
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    (3) The
Borrower shall notify the Lender in writing and provides the relevant modified
materials within five working days if changes occur on the items registered with
the Industrial and Commercial Bureau including company name, legal
representative (responsible person), resident place, business scope, registered
capital, the Articles of Association ect.

    

    (4) The
Borrower shall use the loan for the purpose as specified in this Contract and
shall not occupy or misappropriate the loan or use the loan in illegal dealings;
should assist the Lender in the supervision and inspection over the business
operation, financial activities and the use of the loan; shall not take out
capital, transfer assets or make use of related party transactions to avoid the
debt; shall not make use of the forged contract or discount or mortgage any
right of credit like notes receivable and account receivable based on no real
trading background to obtain cash or credit lines from the bank.

    

    (5) The
Borrower shall observe the national the related national rules and regulations
with regard to environment protection in using the loan under the contract to
engage in manufacturing and project construction

    

    (6) The
Borrower shall not provide a guarantee for a third party with the assets formed
by the loan under this Contract without the Lender’s consent before paying off
the principal and interests to the Lender;

    

    (7) If
the Borrower is a group company, it shall report promptly to the Lender the
relate party transactions with an amount of more than 10% of the net assets of
the Borrower, including: a. the relations between the related transaction
parties; b. the subject and nature of the transaction; c. the amount or the
related proportion of the transaction; d. pricing policy (including transactions
without amount or with nominal amount);

    

    (8) If
the loan under the Contract is a fixed asset loan or a project loan, the
Borrower shall guarantee that project has obtained the approval by relevant
official authority and there are no  any circumstance in violations of
laws and regulations; that the capital in cash or other funds to be raised have
been injected or invested in full as per the schedule and proportion ; that the
project will be completed on schedule.

    

    Article 8
Rights and Obligations of the Lender

    1. The
Lender is entitled to demand the Lender to repay the principal and pay the
interest and expenses according to schedule; to exercise other rights under this
Contract; and to request the Borrower to fulfill its obligations under the
Contract.

    

    2. The
Lender shall grant the loan according to this Contract with an exception that
the delay is caused by the Borrower or by other reasons that cannot be
attributed to the Lender;

    

    3. The
Lender shall keep confidential the financial materials and business secrets with
regard to production and operation unless otherwise regulated by the laws and
regulations or requested by the authorities or agreed upon by both
parties;

    
      
         

      

      
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    4. The
Lender shall not bribe or extort or receive bribe from the Borrower or its
stuff;

    

    5. The
Lender shall not carry out dishonest acts or acts that may impair the legitimate
interests of the Borrower.

    

    Article 9
Liabilities for Breach of Contract and the remedial measures under the
circumstances that the creditor’s rights of the Lender are
endangered

    

    Event of
Default and responsibilities of Lender

    
      	
              1.

            	
              The
      Borrower is entitled to demand the Lender to grant the loan in accordance
      with the Contract if there’s no justified reasons to withhold the
      loan;

            

    

    

    (2) The
Borrower is entitled to demand the Lender to refund the interest and expenses
imposed on the Borrower in violation of national prohibiting laws and
regulations.

    

    2. Event
of Default by Borrower

    

    (1) The
Borrower violates any stipulation of this Contract or any statutory
obligations;

    (2) The
Borrower expressly indicated by words or acts that it will not perform any
responsibility stipulated in this Contract.

    

    3.
Possible damages to the creditor’s rights of the Lender

    (1) Any
of the following incidents which the Lender believes will affect the security of
the creditor’s rights under this Contract: contraction, being taken over, lease,
stockholding system reform, reduction of the registered capital, investment,
co-managing, merger, acquisition, acquisition restructuring, division, starting
a joint venture, applying for cessation of business operation, applying for
dissolution of business, being revocated, applying for bankruptcy, changes of
the controlling shareholders or actual controller, transfer of the significant
assets, cessation of production, going out of business, being imposed of heavy
fines by authorities, cancellation of registration, revocation of the business
license, involving in any significant lawsuits, serious difficulties in business
or deterioration of financial situation, the failure of the legal representative
or responsible person to fulfill normal duties;

    

    (2) Any
of the following incidents which the Lender believes will affect the security of
the creditor’s rights under this Contract: the Borrower fails to fulfill other
due liabilities (including the due liabilities owed to the Construction Bank of
China of different levels or other third parties), or transfer the assets at low
price or for free , mitigate or annul the liabilities of third party, exercise
the creditor’s or other rights passively or provide guarantee for third
party;

    

    (3) The
shareholders of the Borrower abuse the independent legal person status or
limited liabilities of the shareholder to escape from debt which the Lender
believes will affect the security of the creditor’s rights under this
Contract;

    
      
         

      

      
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    (4) Any
of the prerequisites for the granting of loan under this Contract is not met
consistently;

    (5) Any
of the following incidents relating to the Guarantor which the Lender believes
will affect the security of the creditor’s rights under this
Contract:

    a.
violations of any stipulation of the guarantee contract or any falsehood, error
or omission existing between the statements and guarantee issues;

    b. the
following incidents that may affect the capability of the guarantor:
contracting, being taken over, lease, stockholding system reform, reduction of
the registered capital, investment, co-managing, merger, acquisition,
acquisition restructuring, division, starting a joint venture, applying for
cessation of business operation, applying for dissolution of business,
revocation, applying for bankruptcy, changes in the controlling shareholders or
actual controller, transfer of the significant assets, cessation of production,
going out of business, being imposed of heavy fines by authorities, cancellation
of registration, revocation of the business license, involving in any
significant lawsuits, serious difficulties in business or deterioration of
financial situation, the failure of the legal representative or responsible
person to fulfill normal duties;

    

    c. Other
incidents that may result in the loss of the guarantee capability;

    

    (6) Any
of the following incidents occurs on mortgage and pledge which the Lender
believes will affect the security of the creditor’s rights under this
Contract:

    a. The
destruction, loss or devaluation of the mortgage assets or pledge assets due to
the behavior of the third party, national collection, confiscation,
expropriation, taking back without payment, relocation, market changes or other
reasons;

    

    b. The
mortgage assets or pledge assets are sealed, distressed, frozen, transferred,
detained, sold at an auction, supervised by the executive authorities or there
exists ownership disputes;

    c.
Violations of any stipulation by the mortgagor or pledgor or any falsehood,
error or omission existing between the statements and guarantee
issues;

    d. Other
circumstances that may impair the Lender’s fulfillment of the right to mortgage
or right of pledge;

    

    (7)
Failure in establishment, ineffectiveness, invalidity, revocation, termination
of the guarantee; the guarantor breaches the Contract or indicates by words or
acts that it will not fulfill the guarantee responsibility; or the guarantor
loses part or the entire guarantee capability, or the devaluation of the
guarantee and other circumstances which the Lender believes will affect the
security of the creditor’s rights under this Contract; or

    

    (8) Other
circumstances which the Lender believes will affect the security of the
creditor’s rights under this Contract.

    

    4.
Remedial measures by the Lender

    

    The
Lender shall be entitles to exercise one or more of the following rights when
the circumstances stated in second and third paragraphs of Article 9
occur:

    
      
         

      

      
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    (1) To
cease the granting of the loan;

    (2) to
declare an immediate maturity of the loan; demands the immediate repayment of
the principal, interest and expenses due or undue;

    (3) If
the Borrower fails to draw and use the loan according to the Contract, the
Lender shall be entitled to demand the Borrower to pay a penalty equivalent to
5% of the amount drawn disregarding the provisions of the Contract and to refuse
the drawing of the undrawn loan by the Borrower;

    (4) If
the Borrower fails to use the loan for the purpose as specified in this
Contract, the Lender shall be entitled to charge penalty interest and compound
interest on the misappropriated loan at the penalty interest rate and by
interest settlement method stipulated in this Contract from misappropriation
date until the Borrower pays up principal and interest;

    (5) If
the loan is overdue, the Lender shall be entitled to charge penalty interest and
compound interest on the overdue portion of loan principal and interest
(including part and entire of the premature loan principal and interest declared
by the Lender) at the penalty interest rate and by interest settlement method
stipulated in this Contract from overdue date until the Borrower pays up
principal and interest. The overdue debt refers to the failure of the Borrower
in paying off the borrowing timely or according to the installment plan under
this Contract.

    

    Before
the mature of the loan, the Borrower shall be charged with a compound interest
on the overdue interest at the penalty interest rate and by interest
settlement.

    

    (6) Other
remedial measures, including but not limited to:

    

    a. The
Lender may directly deduct from the Borrower’s account at the Construction Bank
of China the relevant amount in RMB or other currency without
pre-notice;

    b.
Exercise the rights of guarantee;

    c. The
Lender may request the Borrower to provide new guarantee for all the debts under
this Contract in accordance with the Lender’s requirement;

    d.
Dissolution of this Contract.

    

    Article
10 Other provisions

    

    1.
Expenses

    Except
otherwise agreed upon by both parties, the Borrower shall undertake all the
expenses under this Contract and the expenses related to the guarantee under the
Contract, including legal consultation service charges, insurance, evaluation
fees, registration charges, storage fees, appraisal expenses and notarization
costs.

    

    The
Borrower shall bear all the expenses (including but not limited to litigation
fees, arbitrations fees, storage fees, travel expenses, execution fees,
evaluation fees, lot money, notarization costs, delivering fees, notice fees and
attorney’s fee) which the Lender has incurred during the realization of the
creditor’s rights.

    
      
         

      

      
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    2. The
use of the information of the Borrower

    The
Borrower agrees that the Lender may inspect the Borrower’s credit status from
the credit database established under the approval of the Construction Bank of
China and credit departments or from relevant organizations and departments and
may provide the information of the Borrower to the credit database mentioned
above. The Borrower agrees that the Lender may properly use and disclose the
information of the Borrower due to business needs.

    

    3.
Collection through public announcement

    In case
the Borrower delays the repayment of loan principal and interest or violates its
undertaking, the Lender is entitled to report to the relevant authority on the
said act(s) and make such act(s) public in the mass media.

    

    4.
Evidence effect of the records of the Lender

    

    Unless
there is reliable and definitive adverse proof, the internal accounting records
relating to the principal, interest, expenses and repayment records, the
supporting documents and vouchers made or preserved by the Lender generated
during going through business procedure of drawing, loan repayment and interest
payment shall serve as the effective evidences of the debtor-creditor
relationship between the Borrower and the Lender. The Borrower shall not raise
an objection only because the above-mentioned records, supporting documents,
vouchers are unilaterally made and preserved by the Lender.

    

    5.
Retention of rights

    

    The
rights of the Lender under this Contract shall not effect or exclude other
rights entitled under the laws and regulations and other contracts. Any
forbearance, extension or favor granted on the contract breach or delay or any
delay by the Lender in exercising any of its rights under this Contract shall
not be considered as a waiver of the rights and interests under this Contract,
or the permission or approval of the behavior violating the stipulations of this
Contract, or limit, prevent or hinder the continuing exercising of the rights
thereof or the exercising of any other rights, or results in any obligations and
responsibilities Lender undertakes to the Borrower.

    

    6. In
case that the Borrower owns due debts other than the debts under this Contract
to the Lender, any sum payable by it under this Contract may be directly
deducted by the Lender from the account opened by the Borrower at the
Construction Bank of China in RMB or other currencies. The Borrower agrees not
to raise any objection.

    

    7. The
Borrower shall notify the Lender in writing of changes of the address or contact
information. If fails to notify in time, the loss caused thereby shall be
undertaken by the Borrower.

    

    8.
Deduction of the amount payable

    

    The
Lender shall be entitled to deduct directly all the amounts payable under this
Contract from the account opened by the Borrower at the Construction Bank System
in RMB or other currencies without noticing the Borrower in advance. In case the
exchange settlement and foreign exchange transaction procedure are needed to be
completed the Borrower shall assist the Lender in completing these formalities
and the exchange rate risk shall be borne by the Borrower.

     

    
      
        
        

      

      
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    9.
Dispute Resolution

    

    Any
dispute arising from or out of the performance of this Contract shall be
resolved by both parties through amicably negotiation. If no agreement can be
reached through consultations, the disputes shall be resolved through the means
in Item (1) below:

    

    (1) Legal
action at the court of jurisdiction over the area where the Lender is
located;

    (2)
Application for arbitration with ________ Arbitration Commission (Place of
Arbitration ____)in accordance with the arbitration rules effective at the date
of application. The arbitral award will be final and binding upon the two
parties concerned.

    

    During
the course of legal action or arbitration, the parties should continue to
perform the terms that are not involved in the dispute.

    

    10.
Effectiveness

    

    This
Contract shall become effective after it is signed and sealed by the legal
representatives or authorized signatories of the Borrower and the
Lender.

    

    11. This
Contract shall be made in five
copies.

    

    12.
Miscellaneous

    (1) The
Borrower undertakes that:

    a. The
Borrower has established the principal account with the Lender before the
granting of the fixed assets loan and revoked all the domestic and foreign
currency accounts at other banks and will not transfer the principal account to
other banks before the complete repayment of loan;

    

    b. The
Lender will be the Borrower’s only bank of domestic and foreign currency
accounts when there’s no credit support by other financial institutions to the
Borrower; the Borrower may open accounts at other bank due to business needs
after getting the Lender’s consent;

     

    
      
        c. [****]*

         

        
          

        

      

    

    
       * This portion has been
omitted and filed separately with the Securities and Exchange Commission
pursuant to Rule 406.

    

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

    d. The
Borrower undertakes that the prepayment of RMB150 million made by Zhejiang Yuhui
Solar Energy Source Co., Ltd will be converted to be shareholder loans before
June 30th, 2009 and the prepayment will not be used to offset the payment of
goods or be refunded;

    

    e. The
Borrower promises not to refund the shareholder loans and the loans from the
related affiliates in the group before paying off the principal and interest to
the Lender;

    

    f. The
Borrower will not distribute dividends to the shareholders before paying off the
principal and interest to the Lender without the consent of the
Lender

    

    g. The
Borrower undertakes that it will not sell on credit and will adopt cash and bank
acceptance bill as one of the settlement methods.

    

    h. that
Zhejiang Yuhui Solar Energy Source Co., Ltd undertakes to buy the polysilicon
materials from the Borrower in the first place during purchasing
feedstock.

    

    (2)
Default Clause

    a. The
Borrower shall revoke all the domestic and foreign currency accounts at other
banks and the Lender will be the only bank of domestic and foreign currency
accounts when there’s no credit support by other financial institutions to the
Borrower and will open accounts at other bank due to business needs after
getting the Lender’s permission;

    

    b. [****]*

    

    c. The
Borrower promises not to refund the shareholder loans and the loans from the
related group affiliates before paying off the principal and interest to the
Lender;

    

    d. The
Borrower undertakes that it will not sell on credit and will adopt one of the
settlement methods between cash and bank acceptance bill;

    

    e. Any
violation of any of the above four clause shall be considered as the violation
of the Contract and the Lender shall have the right to recover the premature
loan ahead of schedule.

    

    (3) The
Borrower shall apply for the property ownership certificate and complete the
mortgage procedure on land and real estate issues and add the machinery and
equipment as the mortgage on a timely basis after the completion of the project
construction.

     

    
      

    

    
      * This portion has been
omitted and filed separately with the Securities and Exchange Commission
pursuant to Rule 406.

       

      
        
          
          

        

        
          13

          
            

          

        

        
          
          

        

      

    

     

    
      Article
13 Statement

      

      1. The
Borrower has got a comprehensive and accurate understanding of business scope
and extent of authorization of the Lender;

      2. The
Borrower has read all the provisions under this Contract; the Lender has made
the corresponding explanations in response to the request by the Borrower; and
the Borrower has got a complete and accurate understanding of all the provisions
of this Contract and the corresponding legal consequences.

      3. The
behavior that the Borrower enters the contract and performs the obligations
under the contact is in compliance with laws, regulations, statute and internal
organizational documents and with the approval of the authority of the company
and/or the national authority.

      

      Borrower
(Seal)

      

      Legal
representative (responsible person) or authorized signatory: /s/Li
Xianshou

                                           Date:
January 24th,
2009

      

      Lender
(Seal)

      

      Legal
representative (responsible person) or authorized signatory: /s/Liang
Yuping

                                           Date:
January 24th,
2009

       

      
        
          
          

        

        
          14Exhibit
4.27

     

    Individual
Maximum-Amount Guarantee Contract

    

    Contract
No: Jianmei Individual Maximum-Amount 2009001

    

    Guarantor
(Party A): Li Xianshou and Lian Xiahe

    ID Card
No.:             Li
Xianshou 33010619680801010015

                                     
Lian Xiahe 332627197007010088

    Domicile:
No. 67 Guancheng Chung Road, Yuhuan County, Zhejiang Province

    Zip
code:

    Tel:
0833-8568566

    Fax:
0833-8566013

    

    Creditor
(Party B): China Construction Bank Corporation, Meishan Branch

    Domicile:
No. 119 Hongxing Road, Dongpo District, Meishan, Sichuan Province

    Zip Code:
620010

    Responsible
person: Liang Yuping

    Tel:
0833-8109135

    Fax:
0833-8113979

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Whereas
Party B has granted the credit lines for the first, third and fifth item listed
below to Sichuan ReneSola Silicon Material Co., Ltd (hereinafter referred to as
the “Debtor”) and during the period from January 24th 2009 to
January 23rd 2014
(the “Debt Forming Period”) has signed and/or will sign RMB Loan Contract,
Foreign Exchange Loan Contract, Bank Acceptance Agreement, Issuing Letters of
Credit Contract, Opening Guarantee Agreement, Trade Financing Credit Lines
Contracts and/or other legal documents with the Debtor (the above-mentioned
contracts, agreements and/or other legal documents signed during the Debt
Forming Period  hereinafter referred to as the “Main
Contracts”):

    

    
      	
              (1)

            	
              Granting
      RMB/foreign currency loan;

            

    

    
      	
              (2)

            	
              Accepting
      commercial bills;

            

    

    
      	
              (3)

            	
              Opening
      letters of credit;

            

    

    
      	
              (4)

            	
              Issuing
      letter of guarantee;

            

    

    
      	
              (5)

            	
              Providing
      import and export trade financing (including but not limited to opening
      letters of credit, trust receipt loans and overseas payment
      etc.)

            

    

    
      	
              (6)

            	
              Other
      loan business: None

            

    

    Party A
is willing to provide the Debtor with maximum amount mortgage for the series of
liabilities under the Main Contracts. Pursuant to relevant laws and regulations,
both parties agree to enter into this Contract through negotiation for the
purpose of common observation and implementation.

    

    Article 1
Scope of guarantee and the maximum claim limit

    
      	
              (1)

            	
              The
      guarantee scope under this Contract shall be the overall liabilities under
      the Main Contracts, including without limitation the principal, interest
      (including compound interest and penalty interest), liquidated damages,
      compensation, other fares the debtor shall pay to Party B (including but
      not limited to the relevant procedure fees, telecommunication charges,
      miscellaneous fees or expenses, relevant bank fees that occurs when the
      beneficiary refuses to assume under the letters of credit), the
      realization expenses of Party B’s creditor’s rights and guarantee rights
      (including but not limited to litigation fees, arbitrations fees, property
      preservation fees, travel expenses, execution fees, evaluation fees, lot
      money, notarization costs, delivering fees, notice fees and attorney’s
      fee, etc).

            

    

    
      	
              (2)

            	
              The
      maximum amount of the guarantee liabilities under this Contract is up to
      RMB nine hundred million. In case Party A fulfills part of the guarantee
      obligations under this Contract, the maximum amount shall be deducted with
      the fulfilled amount.

            

    

    
      	
              (3)

            	
              If
      the formation time of the loan, advance, interest, expenses or other
      creditor’s rights of Party B exceeds the Debt Forming Period, the above
      mentioned debts shall still be included in the scope of the guarantee. The
      expiry date of the debt implementation period shall not be subject to that
      of the Debt Forming Period.

            

    

    

    Article 2
Means of guarantee

    Party A
provides the joint and several guarantee liabilities.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Article 3
Period of guarantee

    
      	
              (1)

            	
              The
      period of guarantee under this Contract will be calculated separately
      according to the single loan business handled by Party B for the creditor,
      i.e. the period will begin on the date on which the Main Contract for each
      single loan is signed and ends at two years after the expiration of the
      period for fulfilling the debts under the Main
  Contract.

            

    

    
      	
              (2)

            	
              If
      Party B and the debtor enter into an extension agreement regarding the
      debt fulfillment period of the Main Contract, the guarantee period shall
      end on two years after the expiration of the period for fulfilling the
      debts renewed in the extension agreement. The extension on the debt
      fulfilling period doesn’t require Party A’ prior consent and Party A shall
      still undertake the joint guarantee responsibility for such
      debt.

            

    

    
      	
              (3)

            	
              If
      the circumstances stipulated by law or the Main Contract occurs and Party
      B declares the early maturity of the debt, the guarantee duration shall
      end at two years after the early maturity date of the
  debt.

            

    

    

    Article 4
The independence of the guarantee contract

    This
Contract is independent from the Main Contracts. Any invalidity, partial
invalidity, reversibility, dissolution of the Main Contract shall not affect the
validity of this Contract. If the Main Contract is confirmed invalid, partial
invalid, reversed, or dissolved, Party A shall take joint liability for the
debts formed due to the return of property and compensation of the loss and
damages by the debtor.

    

    Article 5
Modification of the Main Contract

    
      
        	
                (1)

              	
                Party
      A agrees that if Party B and the debtor enter into or make any
      modification of the Main Contract (including but not limited to extending
      the fulfillment duration of the debt or increasing the amount of the
      principal debt, no consent is required from Party A who will still bear
      the guarantee responsibilities within the maximum amount and scope of
      guarantee.

              

      

    

    (2)  
Party A’s guarantee liabilities shall not be reduced for any occurrence of the
following circumstance:

    a.
Restructuring, merger, acquisition, division, increasing or decreasing in
capital, starting a joint venture, co-managing and renaming etc. of Party B or
the debtor;

    b. Party
B entrusts a third party to fulfill its obligations under the Main
Contract.

    (3) If
the creditor’s rights of the Main Contract are transferred, the guarantee under
this Contract shall be transferred accordingly.

    (4) If
the transfer of the creditor’s rights and debts of the Main Contract is
effective, invalid, unenforceable, revoked, or dissolved, Party A shall still
bear the joint guarantee liabilities to Party B according to this
Contract.

    

    Article 6
Guarantee liabilities

    
      	
              (1)

            	
              If
      the debts under any of the Main Contracts are due or Party B declares the
      early maturity of the debt according to the Main Contracts or the relevant
      laws and that the Debtor fails to full pay the debt or breach other
      regulations of the Main Contracts, Party A shall undertake the guarantee
      responsibility within the agreed scope
herein.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              (2)

            	
              No
      matter whether Party B has got any other guarantee for the debt under the
      Main Contracts (including without limitation guarantee, mortgage, pledge,
      performance letter, standby letter of credit, etc), no matter when or
      whether the above-mentioned guarantee establish or come into effect, no
      matter whether Party B has claimed the claim to the other guarantor for
      the debt in whole or part, no matter whether any third party agree to
      undertake the debt in whole or part under the Main Contracts. And no
      matter whether such a guarantee is provided by the debtor itself, the
      guarantee liability of Party A under this contract shall not be reduced or
      exempted and Party B is entitled to directly require Party B to perform
      the obligation as per the Contract. Party A shall not raise any objection
      to such a request.

            

    

    
      	
              (3)

            	
              If
      the maximum guarantee hereunder in the Contract is lower than the actual
      claim amount formed under the Main Contracts and the claim has not been
      cleared in full after Party A perform the guarantee obligations, Party A
      undertakes that the claim of its right of recourse or right of subrogation
      to the debtor shall damage any interest of Party A and agree that the debt
      under the Main Contracts shall be settled prior to the exercise of its
      right of recourse or right of subrogation. To be specific, before the
      creditor’s right of Party B has been
realized,

            

    

    
      	
            	
              A.

            	
              Party
      A agrees not to claim the right of recourse or right of subrogation to the
      debtor or any other guarantor. If Party A has exercised the above right
      for any reason, Party A shall use the collected amount to pay the unpaid
      debt owe to Party B as a priority

            

    

    
      	
               
      

            	
              B.

            	
              If
      the debt under the Main Contracts is guaranteed with property, Party A
      agrees not claim for such property or any amount obtained by disposal of
      such property for the cause of the right of subrogation or any other
      reasons. The above guarantee property and the amount collected shall be
      used to pay the unpaid debt owe to Party B as a
  priority.

            

    

     

    
      
        	
                ( 4
      )

              	
                Party
      A has been full aware of the interest rate risk. If Party B adjusts the
      interest rate, interest calculation or interest settlement method
      according to the Main Contracts or the change of national risk rate policy
      which results in that the interest, penalty interest or the compound
      interest the Debtor shall pay would increase. For the increased amount,
      Party shall undertake a joint guarantee
  liability.

              

      

    

    
      
        	
                ( 5
      )

              	
                If
      in addition to the debts under the Main Contracts, the Debtor also owes
      other due debt to Party B, Party B is entitled to transfer any amount in
      RMB or other currency in the account of the Debtor opened in China
      Construction Bank to pay any due debt. The guarantee liability of Party A
      shall not be reduced or exempted due to such a
  transfer.

              

      

    

    
      
        	
                ( 6
      )

              	
                If
      Party A provides guarantee for the debt on financing import and export
      trade of Party B, no matter whether Party B has the right to dispose or
      has not disposed the relevant documents and/or commodity under the Main
      Contracts, no matter whether the background contract for applying such a
      trading financing has any dispute or fraud, and no matter whether Party B
      has exploited other rights or remedies under the Main Contracts, Party A
      shall fulfill its guarantee obligation under the Contract and no objection
      shall be raised.

              

      

    

    
      Party A
confirms that it doesn’t need its prior approval when Party B or the Debtor
accepts any discrepancy between the documents and the clause in letter of Credit
or between different documents. Party A shall not apply for liability exemption
based on the reason that the acceptance of such discrepancy by Party A or the
Debtor is without its approval.

    

    

    Article 7
Other liabilities of Party A

    
      	
              (1)

            	
              Party
      A shall monitor the Debtor on the loan use circumstance (including the use
      purpose)

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              (2)

            	
              Party
      shall honestly provide the documents relating to his financial statement,
      personal credit etc. and guarantee that such documents are exact, true,
      compete and effective. Without Party B’s written consent, Party A shall
      not provide to any third party the guarantee beyond his
      affordability.

            

    

    
      	
              (3)

            	
              If
      Party A changes his nationality, residence place, marital status, has
      serious disease, is imposed with administrative or criminal penalty, get
      involved in significant civil legal dispute or incur the financial
      situation deterioration, Party A shall notify Party B immediately and as
      per Party B’s request ensure the undertaking, transfer, succession of the
      guarantee liability under the Contract or provide new guarantee for the
      performance of the Main Contract acceptable for Party
  B.

            

    

    
      	
              (4)

            	
              The
      enterprise for which Party A is the controlling shareholder or actual
      controller has incurred merger, acquisition, division, shareholding
      change, increasing or decreasing in capital, starting a joint venture,
      co-managing and renaming etc, Party A shall in time inform Party
      B.

            

    

    

    Article 8
Other liabilities of Party A

    (1)
Deduction of the amount payable

    Party B
shall be entitled to deduct directly all the amounts payable under this Contract
from the account opened by Party A at the Construction Bank System in RMB or
other currencies without noticing Party A in advance. In case the exchange
settlement and foreign exchange transaction procedure are needed to be
completed, Party A shall assist Party B in completing these formalities and the
exchange rate risk shall be borne by Party A.

    (2) The
use of the information of the Borrower

    Party A
agrees that Party B may inspect Party A’s credit status from the credit database
established under the approval of the Construction Bank of China and credit
departments or from relevant organizations and departments and may provide the
information of Party A to the credit database mentioned above. Party A agrees
that Party B may properly use and disclose the information of Party A due to
business needs.

    (3)
Collection through public announcement

    In case
Party A breaches the Contract, Party B is entitled to report to the relevant
authority on the act of breach and make such act(s) public in the mass
media.

    (4)
Evidence effect of the records of Party B

    Unless
there is reliable and definitive adverse proof, the internal accounting records
relating to the principal, interest, expenses and repayment records, the
supporting documents and vouchers made or preserved by Party B generated during
going through business procedure of drawing, loan repayment and interest payment
shall serve as the effective evidences of the debtor-creditor relationship under
the Main Contracts. Party A shall not raise an objection only because the
above-mentioned records, supporting documents, vouchers are unilaterally made or
preserved by Party B.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (5)
Retention of rights

    The
rights of Party B under this Contract shall not effect or exclude other rights
entitled under the laws and regulations and other contracts. Any forbearance,
extension or favor granted on the contract breach or delay or any delay by Party
B in exercising any of its rights under this Contract shall not be considered as
a waiver of the rights and interests under this Contract, or the permission or
approval of the behavior violating the stipulations of this Contract, or limit,
prevent or hinder the continuing exercising of the rights thereof or the
exercising of any other rights, or results in any obligations and
responsibilities Party B undertakes to Party A.

    Even if
Party B fails to or delays to exercise any rights under the Main Contracts or
has not exploited all the remedies under the Main Contract, Party A’s guarantee
liability shall not be reduced or exempted accordingly. However, if Party B
reduces or exempts any debts under the Main Contracts, the guarantee liability
of Party A under this Contract shall be reduced or exempted
accordingly.

    (6)Dissolution
or Bankruptcy of the Debtor

    When
Party A knows that the Debtor has come into dissolution or bankruptcy procedure,
Party A shall immediately advise Party B to declare the claims and at the same
time have itself in time take part in the procedure and exercise the right of
subrogation in advance. If Party A knows or should have known that the Debtor
has come into dissolution or bankruptcy procedure, but fails to exercise the
right of subrogation in advance in good time, any loss incurred shall be borne
by Party A.

    In spite
of the stipulations in the second clause under Item 5 of this Article, during
the Debtor’s bankruptcy procedure, if Party B and the Debtor have reached a
composition agreement or have agreed to a restructuring plan, the right of Party
B under this Contract shall not be damaged due to such an agreement or the
agreed restructuring plan and Party A’s guarantee liability shall not be reduced
or exempted due to the above reasons. Party A shall not defend the claim of
Party b with the stipulations in the contract or restructuring plan reached
between Party B and the Debtor. For any debts which can’t be settled due to the
compromise Party B has made to the Debtor in a composition agreement or a
restructuring plan, Party B is still entitled to claim to Party A for
settlement.

    (7) Party
A shall notify Party B in writing of changes of the address or contact
information. If it fails to notify in time, the loss caused thereby shall be
undertaken by Party A.

    (8)
Dispute Resolution

    Any
dispute arising from or out of the performance of this Contract shall be
resolved by both parties through amicably negotiation. If no agreement can be
reached through consultations, the disputes shall be resolved through the means
in Item (1) below:

    A. Legal
action at the court of jurisdiction over the area where Party B is
located;

    B.
Application for arbitration with ________ Arbitration Commission (Place of
Arbitration ____) in accordance with the arbitration rules effective at the date
of application. The arbitral award will be final and binding upon the two
parties concerned.

    During
the course of legal action or arbitration, the parties should continue to
perform the terms that are not involved in the dispute.

    (9).
Effectiveness

    This
Contract shall become effective after it is signed and sealed by the legal
representatives or authorized signatories of Party A and Party B.

    (10).
This Contract shall be made in four
copies.

    (11)
Miscellaneous: none

    

    Article 9
Representation and Warranty of Party A

    (1).
Party A has got a comprehensive and accurate understanding of business scope and
extent of authorization of Party B;

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (2).
Party A has read all the provisions of this Contract and the Main Contracts;
Party B has made the clarification or explanations in response to the request by
Party A; and Party A has got a complete and accurate understanding of all the
provisions of this Contract and the corresponding legal
consequences.

    (3) Party
A has the legal qualification for acting as a guarantor

    (4) Party
A has been fully aware of the Debtor’s situation in term of asset, debt,
operation, credit, reputation etc, all the content of the Main Contracts, and on
whether the Debtor has the qualification and authorization for entering the Main
Contracts.

    

    Party A
or Authorized Representative (Signature) : /s/Xianshou Li, /s/Xiahe
Lian

    Date:
January 24th,
2009

    

    Party B
/Seal/

    

    Legal
representative or Authorized Representative (Signature): /s/ Liang
Yuping

    Date:
January 24th,
2009

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00159-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00159-of-00352.parquet"}]]