"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."
SHANGHAI, March 17, 2015 -- 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.
For additional information visit: www.spisolar.com or www.solarbao.com.