SHANGHAI, March 30, 2015 /PRNewswire/ -- Solar Power, Inc. ("SPI") (OTCBB: SOPW), a vertically-integrated photovoltaic ("PV") developer, today announced that its wholly owned subsidiary, SPI China (HK) Limited, has entered into a share purchase agreement with LDK Solar Europe Holding S.A. and LDK Solar USA, Inc. to acquire certain assets including 4.5 megawatts (MW) of solar PV projects in Italy and 7.8 MW of solar PV projects in California, respectively.
Under the terms of the share purchase agreement, SPI will acquire all of the outstanding capital stock of the holding companies of these solar PV projects owned by LDK Solar Europe Holding S.A. and LDK Solar USA, Inc.
This transaction is subject to several closing conditions including completion of satisfactory due diligence.
Xiaofeng Peng, Chairman of SPI, stated, "We are pleased to announce this agreement which, upon closing, will add significant in-operation assets in Europe and the US to SPI's globally diversified PV portfolio. The acquisition of high-quality assets in key markets will continue to be an important part of our strategy to strengthen SPI's global presence."
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.
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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