ROSEVILLE, Calif.—October 10, 2014 - SPI Solar ("SPI") (SOPW:OTCBB), a vertically-integrated photovoltaic solar developer, today announced that its wholly-owned subsidiary, Xinyu Xinwei New Energy Co., Ltd. ("Xinwei"), has signed an engineering, procurement and construction ("EPC") agreement for a 20 megawatt ("MW") PV project in Wulaichabu City, Inner Mongolia. The agreement, with Inner Mongolia Jingzhaolai Energy Co., Ltd., marks SPI Solar's first agreement for a PV project in the Inner Mongolia region. The project is scheduled to begin in October 2014, with completion and grid connection expected during the fourth quarter of 2014.
"This agreement marks a new geographic expansion of SPI Solar's presence in the rapidly growing market for solar across China," said Xiaofeng Peng, Chairman of SPI. "To date, we have now initiated projects in various regions of China, underscoring our ability to execute our global strategy while also expanding our market presence within China."
About Solar Power, Inc. (SOPW:OTCBB):
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: 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 "believes", "expects" or similar expressions. These forward-looking statements include, but are not limited to, that Xinwei will successfully complete EPC services for the 20 MW project in Wulaichabu City, Inner Mongolia and execute and complete projects in other areas globally. These forward-looking statements involve known and unknown risks and uncertainties. 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