SPI Completes Acquisition of 4.3 Megawatts of Solar PV Projects in Italy
March 17, 2015 (Source: PR Newswire) — Solar Power, Inc. (“SPI”) (OTCBB:SOPW), a vertically-integrated photovoltaic (“PV”) developer, today announced that SPI, together with its wholly owned subsidiary, SPI China (HK) Limited, has completed its previously announced acquisition of 4.3 megawatts (“MW”) of photovoltaic projects in Italy from CECEP Solar Energy Hong Kong Co., Limited (“CECEP HK”), a wholly owned subsidiary of China Energy Conservation and Environmental Protection Group (“CECEP”), a top state-owned energy conglomerate in China.
Xiaofeng Peng, Chairman of SPI, stated, “This acquisition expands SPI’s global PV operating asset portfolio, and marks the beginning of a close working alliance with CECEP, one of China’s top state-owned energy conglomerates. Alongside our recently announced agreement with RE Projects Development to co-develop PV projects in the UK, this deal demonstrates SPI’s growing presence in key European markets.”
About Solar Power, Inc. (OTCBB:SOPW)
Solar Power, Inc. (“SPI” or the “Company”) is a global leader in enabling photovoltaic (“PV”) solutions for business, residential, government and utility customers and investors. SPI focuses on the downstream PV market including the development, financing, installation, operation and sale of utility-scale and residential solar power projects in China, Japan, Europe and North America. The Company also operates an innovative online energy e-commerce and investment platform, www.solarbao.com, which enables individual and institutional investors to purchase innovative PV-based investment and other products. The Company has its operating headquarters in Shanghai and global operations in Asia, Europe and North America.
Safe Harbor Statement
This release contains certain “forward-looking statements” relating to the business of SPI, its subsidiaries and the solar industry, which can be identified by the use of forward-looking terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “expects” or similar expressions. These statements constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Among other things, the quotations from management in this press release contain forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties, including uncertainties regarding whether the transactions contemplated will be successfully completed. All forward-looking statements are expressly qualified in their entirety by this cautionary statement and the risks and other factors detailed in the company’s reports filed with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities law.
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