Acquisition creates established pan-European footprint for SPI's global PV wholesale distribution platform
SHANGHAI, June 1, 2015 -- Solar Power, Inc. ("SPI") (OTCBB:SOPW), a vertically-integrated photovoltaic ("PV") project developer, today announced that a wholly owned subsidiary of SPI has entered into a definitive agreement to acquire certain assets of Energiebau Solar Power GmbH ("Energiebau"), named the "Top PV Wholesale Supplier" for 2012, 2013 and 2014 by the independent market research institute, EuPD Research.
Established in 1983, Energiebau is one of the leading suppliers of solar systems in Europe. With its strong wholesale business and efficient PV distribution platform, Energiebau provides an interface between global solar manufacturers and the solar trade. Energiebau's business model is service oriented and is known for excellence in core PV wholesale functions including distribution, purchasing, quality management and customer service. In addition, it has a history of strong relationships with energy utilities as well as large-scale and commercial PV project activities in Europe and Africa. Combined with SPI's other global platforms, Solar Juice in Australia, and Yes! Solar in the US and China, SPI has established a worldwide presence in PV wholesale distribution.
"We are pleased to welcome Energiebau into SPI's portfolio of world class brands," said Xiaofeng Peng, Chairman of SPI. "The Energiebau name has long been synonymous with quality in the European PV market, which has undergone enormous change in recent years. Despite this cyclicality, we believe the this market remains extremely lucrative for providers of distribution, next-generation PV technologies and other value-added services, and we are confident this transaction gives SPI the strongest local platform to capture this tremendous market opportunity. With the proper financial and management resources, the Energiebau brand will be revitalized and create value for our shareholders and partners." Chairman Peng continued, "With streamlined operations between Energiebau, Solar Juice and Yes! Solar, SPI will have created one of the strongest global platforms to address the huge market need for PV wholesale and distribution services."
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.