ROSEVILLE, Calif.--(BUSINESS WIRE)--Solar Power, Inc. (“SPI” or “SPI Solar”) (OTCBB:SOPW), a vertically-integrated photovoltaic (“PV”) developer, today announced that two of its wholly-owned subsidiaries in China (collectively, “SPI Solar China”), have entered into agreements to develop two rooftop sites; one in Sheyang City, and another in Suzhou Industrial Park, both in Jiangsu Province, China.
The project agreement for the site in Sheyang City calls for SPI Solar China to provide engineering, procurement and development (“EPC”) services for a 13 megawatt (“MW”) distributed generation (“DG”) PV project. Construction of the 13 MW project is expected to begin in December 2014, with grid connection anticipated in early 2015.
In addition, pursuant to a separate agreement, SPI Solar China has secured and will lease from the Suzhou Industrial Park Government Authority a rooftop site of 180,000 square meters in Suzhou Industrial Park, on which SPI Solar China will build and own more than 10 MW of DG projects. SPI currently anticipates development and construction on this site to begin in 2015 with completion and grid connection expected during the year.
“Entry into these agreements is an important phase in SPI’s continued expansion in Jiangsu Province, one of the most important DG markets in China,” said Xiaofeng Peng, Chairman of SPI. “We believe that SPI’s foothold in securing these DG projects will herald further market share gains of SPI’s DG business platform in China.”
About Solar Power, Inc. (OTCBB: SOPW):
Solar Power, Inc. (“SPI” or “SPI Solar”) is a vertically-integrated PV 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 PV 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 "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates," "expects" or similar expressions. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties, including uncertainties regarding whether the Company will successfully perform and complete EPC services for the 13 MW project and successfully develop the rooftop site in Suzhou Industrial Park in Jiangsu Province, China, noted in this press release. 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.
