Why ReneSola Stock Just Spiked 19% Higher

Utility-scale solar farm developer ReneSola (NYSE: SOL) spiked in morning trading, its stock rising 19% through 11:55 a.m. EST. What's all the excitement about?

This morning, ReneSola announced that it has signed a memorandum of understanding with asset management firm Eiffel Investment Group to establish a joint venture that will provide financing for ReneSola solar farms being built across Europe.  

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Source Fool.com