SPI Announces Agreement with K.K. Uniroot to Jointly Develop Over 500 MW of Solar PV Projects in Japan
SPI and Uniroot will establish a joint venture in Japan, in which SPI will hold no less than 51% equity interest, for the development of the Solar PV power plant projects.
SHANGHAI, May 26, 2015 -- Solar Power, Inc. ("SPI") (OTCBB: SOPW), a vertically-integrated photovoltaic ("PV") developer, today announced that SPI and its wholly-owned subsidiary, SPI Solar Japan G.K. have entered into a strategic partnership agreement with K.K. Uniroot ("Uniroot"), a diversified Osaka-based corporation with significant solar PV project development interests, to jointly develop a pipeline of more than 500 megawatts (MW) of solar PV power plant projects in Japan.
Under the terms of the agreement, SPI will assume primary responsibility for certain functions including project funding, construction and equipment procurement, with Uniroot bearing primary responsibility for other matters including land purchase and lease, securing necessary permits, and obtaining power purchase agreements with local utilities, among others. SPI and Uniroot will establish a joint venture in Japan, in which SPI will hold no less than 51% equity interest, for the development of the Solar PV power plant projects.
"We are delighted to announce this partnership agreement with Uniroot to jointly develop solar PV power plants in Japan, one of SPI's core markets globally," said Xiaofeng Peng, Chairman of SPI. "Combining SPI's leading expertise in developing world-class PV power plants with Uniroot's deep local connections and experience in the Japanese solar market, we are confident that this a win-win partnership which will create significant value for both parties in the years ahead."
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; as well as www.solartao.com, a B2B e-commerce platform offering a range of PV products. The Company has its operating headquarters in Shanghai and 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.