SPI Announces Agreement to Acquire Shanghai All-Zip Roofing System Group Co., Ltd.

"All-Zip's expertise in providing comprehensive roofing solutions for commercial and industrial installations fits well with SPI's strategy to capitalize on the growing market in China for the development of distributed generation (DG) solar PV projects, which China's National Energy Administration (NEA) has pledged to actively support in the coming years. "

SHANGHAI, April 30, 2015 -- Solar Power, Inc. ("SPI") (OTCBB: SOPW), a vertically-integrated photovoltaic ("PV") developer, today announced that it, together with its wholly owned subsidiary, Meitai Investment (Suzhou) Co., Ltd., ("Meitai Investment"), has entered into a definitive share purchase agreement with Shanghai All-Zip Roofing System Group Co., Ltd. ("All-Zip"), a company established in China, and all of its shareholders (collectively, the "All-Zip Sellers") for the acquisition of 100% of the equity interest in All-Zip. All-Zip is a leading provider of comprehensive roofing solutions in the China market.


Pursuant to the share purchase agreement, Meitai Investment agreed to purchase from the All-Zip Sellers 100% of the equity interest in All-Zip for an aggregate consideration of RMB275 million to be settled with SPI's shares of common stock at $2.38 per share, subject to customary closing conditions and other terms and conditions set forth in the share purchase agreement.

"Following upon the framework agreement announced last October, we are pleased to announce this agreement to acquire All-Zip," said Xiaofeng Peng, Chairman of SPI. "All-Zip's expertise in providing comprehensive roofing solutions for commercial and industrial installations fits well with SPI's strategy to capitalize on the growing market in China for the development of distributed generation (DG) solar PV projects, which China's National Energy Administration (NEA) has pledged to actively support in the coming years. Combined with SPI's innovative online energy e-commerce and investment platform Solarbao.com, All-Zip gives SPI a strong foundation to capture market share in the lucrative commercial and industrial rooftop DG segment in China."

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, commercial and industrial, 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 maintains global operations in Asia, Europe, North America and Australia.
For additional information visit: www.spisolar.com, www.solarbao.com, www.solarbao.com.hk or www.solartao.com.

Featured Product

DPW Solar Power Rail™

DPW Solar Power Rail™

The Power Rail™ hardware system is the professional grade choice for mounting PV Modules on residential roofs and commercial structures. Featuring revolutionary RAD™ lock-in-place hardware, grounding and pre-assembled clamps, the Power Rail mounting system offers installers both labor and time savings. What sets this mounting system apart are eight rail choices for reducing costs over a broad range of span distances. Since 1993, DPW Solar mounting systems have provided installers the right combination of innovative products, cost savings and proven solar mounting technologies.