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ROSEVILLE, Calif.—November 10, 2014 - SPI Solar ("SPI") (OTCBB: SOPW), a vertically-integrated photovoltaic solar developer, today announced that its newly established and wholly owned subsidiary, SPI Solar Power Engineering (Suzhou) Co., Ltd. (Suzhou Xinwei), entered into two engineering, procurement and construction ("EPC") agreements for an aggregate of 80 megawatts ("MW") of solar projects in China. The two agreements call for Suzhou Xinwei to provide EPC services to two projects-- one ground-based utility project of 70 MW in Huade County, Inner Mongolia Region (the "Huade Project") and one distributed generation ("DG") project of 10 MW in Shunde County, Guangdong Province (the "Shunde Project").
Construction of the Huade Project is scheduled to begin in early December 2014 and be completed with grid connection by the end of July 2015. Construction of the Shunde Project is scheduled to begin in November 2014 and be completed by the end of December 2014 with grid connection.
"SPI continues to strengthen its leading position in developing solar projects in Inner Mongolia and across China," said Xiaofeng Peng, Chairman of SPI. "We are especially pleased to announce our first EPC contract for a DG project in Guangdong Province, one of the most important and rapidly growing markets for DG projects in China."
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: .
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 develop solar projects in Inner Mongolia Region or Guangdong Province. 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.
Amy Liu, Solar Power, Inc. (800) 548-8767