ROSEVILLE, Calif.--(BUSINESS WIRE)--SPI Solar (“SPI”) (OTCBB:SOPW), a vertically-integrated photovoltaic solar developer, today announced that it has entered into an agreement to acquire both land and project development rights for a 6 megawatt (“MW”) project in Susami City, Wakayama Prefecture, Japan. The agreement calls for SPI’s Japan subsidiary, SPI Solar Japan GK (“SPI Japan”), to provide engineering, procurement and construction (“EPC”) services for the project, which SPI will own following its completion. Construction on the project is scheduled to begin in November 2014, with completion expected by August 2015.
The 6 MW project planned for Susami City marks SPI Japan’s first ultra-high voltage (“UHV”) project (classified in Japan as larger than 2 MW) for this market.
“Having just recently established our Japan subsidiary in September 2014, we are delighted to have already announced several projects in this important market,” said Xiaofeng Peng, Chairman of SPI. “As Japan is a core PV market for SPI, we plan to further develop our presence and PV portfolio in this country.”
About Solar Power, Inc. (OTCBB:SOPW):
SPI Solar (“SPI”) (Solar Power, Inc.) is a vertically-integrated photovoltaic solar developer offering its own brand of high-quality, low-cost distributed generation and utility-scale solar energy facility development services. From project development, to project financing and to post-construction asset management, SPI delivers turnkey world-class photovoltaic solar energy facilities and turnkey residential solar solutions to its business, government and utility customers. For additional information visit: www.spisolar.com.
Safe Harbor Statement:
This release may contain certain “forward-looking statements” relating to the business of SPI Solar, its subsidiaries and the solar industry, which can be identified by the use of forward-looking terminology such as “believes", “expects” or similar expressions. These forward-looking statements include, but are not limited to, that SPI Solar will successfully complete development of a 6 MW project in Susami City, Wakayama Prefecture, Japan and will further develop its PV portfolio in Japan. These forward-looking statements involve known and unknown risks and uncertainties. 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.