SHANGHAI, March 24, 2015 /PRNewswire/ -- Solar Power, Inc. ("SPI") (OTCBB: SOPW), a vertically-integrated photovoltaic ("PV") developer, today announced that it has entered into a Joint Development Agreement with SG Panama Solar LLC, a division of SDL Solar, to develop, build, own and operate solar assets. The agreement calls for SPI to provide technical and financial support to complete the development and implementation of over 100 megawatts (MW) of identified solar projects in the Republic of Panama by establishing a joint venture with SG Panama Solar LLC, in which SPI will hold a controlling interest.
Xiaofeng Peng, Chairman of SPI, said, "The partnership announced today expands our relationship with leading PV developer SDL Solar and marks the establishment of SPI's presence in Latin America, which we expect to become one of the fastest growing solar markets in the world."
"We are delighted to partner with SPI to support the development of our pipeline of solar projects in Panama," said Manny Sakellakis, managing member of SDL Solar. "SPI's proven track record coupled with its financing capabilities will allow SDL Solar to build and implement our projects in the most time efficient manner."
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. The Company has its operating headquarters in Shanghai and global operations in Asia, Europe and North America.
For additional information visit: www.spisolar.com or www.solarbao.com.
About SDL Solar
SDL Solar ("SDL") is a leading photovoltaic solar developer with considerable experience, relationships and insights in the global PV industry. SDL provides a full range of solutions for photovoltaic projects in all stages. For additional information visit: www.sdlsolar.com
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of SPI, 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 contain forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties, including uncertainties regarding whether the transactions contemplated will be successfully completed. 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.
Contact:
Amy Liu, Solar Power, Inc. (800) 548-8767
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