ROSEVILLE, Calif.—October 14, 2014 - SPI Solar ("SPI") (OTCBB: SOPW), 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 30 megawatt ("MW") PV project in Alxa League, Inner Mongolia. The agreement with Alxa League ZhiWei PV Power Co., Ltd., marks SPI Solar's second agreement for a PV project in the Inner Mongolia region announced this month. The project is scheduled to begin in October 2014, with completion and grid connection expected by the end of March 2015.
"We are pleased to have announced yet another EPC project in the Inner Mongolia region as we continue to establish a presence there while rapidly penetrating the market for solar across China overall," said Xiaofeng Peng, Chairman of SPI. "We continue to see solid growth opportunities and are excited by our success thus far in this important market for SPI Solar."
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: 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 30 MW project in Alashan, Inner Mongolia. 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