SPI Energy Co., Ltd. ("SPI Energy" or the "Company") (Nasdaq: SPI), a global provider of photovoltaic (PV) solutions for business, residential, government and utility customers and investors, announced that it has successfully completed and connected four distributed generation (DG) projects totaling 12.8 megawatts (MW) to the grid in China. The Company was responsible for the engineering, procurement and construction (EPC) of all the DG solar energy projects, while Solarbao.com, SPI Energy's e-commerce and investment platform, provided financial leasing services.
The DG projects included two rooftop solar power plants in Jiangsu province, a rooftop solar power plant in Jiangxi province and a solar farm in Shandong province: (i) the 5MW Hai'an project in Jiangsu province involved the installation of 19,000 SPI Energy PV modules across a total surface area of 49,000 square meters, (ii) the 2MW Suzhou Industrial Park project in Jiangsu province used 8,000 PV modules across a total surface area of 41,000 square meters, (iii) the 1.8MW Fuzhou high-tech industrial development zone project in Jiangxi province involved the installation of 7,000 PV modules covering a total surface area of 30,000 square meters, and (iv) the 4MW Shouguang city solar farm project in Shandong province combined solar production with agriculture, and integrated 16,000 PV modules into a farming area covering 157 acres of crops and greenhouses to improve land usage and reduce environmental impact.
Through Solarbao.com, individual and institutional investors can purchase innovative capital leasing investment products designed to generate stable long-term returns. For the four projects, investors were able to purchase the PV modules and kits used in the construction phase and lease them back for a fixed fee. In addition, Solarbao.com investors can earn an annual return for the grid-connected DG projects by investing in their ongoing solar energy generation.
"By leveraging SPI Energy's EPC capabilities and Solarbao.com's innovative business model, these DG solar energy projects will generate clean, reliable electricity for the local power grid for decades to come," said Xiaofeng Peng, Chairman and CEO of SPI Energy. "Solarbao.com is helping to solve the financial bottleneck in China's solar industry and allowing individual and business investors to access a stable and reliable income stream. We look forward to completing more successful Solarbao.com-funded projects in the coming years."
About SPI Energy Co., Ltd.
SPI Energy Co., Ltd. is a global provider of photovoltaic (PV) solutions for business, residential, government and utility customers and investors. SPI Energy 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 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 for both upstream and downstream suppliers and customers. 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 or www.solartao.com.
Safe Harbor Statement
This release contains certain "forward-looking statements." These statements are forward-looking in nature and subject to risks and uncertainties that may cause actual results to differ materially. All forward-looking statements included in this release are based upon information available to the Company as of the date of this release, which may change, and the Company undertakes no obligation to update or revise any forward-looking statements, except as may be required under applicable securities law.
