Print Page      Close Window     

Press Releases

SPI Signs Joint-Development Agreement to Develop Floating PV Projects

Targeting over 50 MW of PV projects in Southwestern US and Mexico

PR Newswire
SHANGHAI

SHANGHAI, March 19, 2015 /PRNewswire/ -- Solar Power, Inc. ("SPI") (OTCBB:SOPW), a vertically-integrated photovoltaic ("PV") project developer, today announced its partnership with Aqua Clean Energy (ACE) for the co-development of floating PV projects in California, Arizona, New Mexico, Texas and Mexico.

Under the terms of the agreement, ACE and SPI will co-develop an identified pipeline of floating PV projects in the licensed territories with an estimated combined size of over 50 megawatts (MW) by establishing a joint venture holding company, Aqua Clean Energy Fund, LLC.

The floating PV projects to be co-developed by ACE and SPI will implement an innovative floating solar platform, which allows standard PV panels to be installed on large bodies of water such as drinking water reservoirs, quarry lakes, irrigation canals or remediation and tailing ponds. The platform is composed of recyclable materials and has very low environmental impact, greatly reducing water evaporation thereby conserving irrigation and drinking water and slowing algae growth due to the shielding of the water by the floating island.

"Large-scale floating PV systems have increasingly shown their effectiveness in various settings, and this platform gives SPI a strong competitive advantage in this growing market segment," said Xiaofeng Peng, Chairman of SPI. "This technology not only generates clean solar power energy, but also serves to conserve water in critically dry regions like the Southwestern US and California in particular, which is now experiencing its fourth consecutive year of drought. With extensive experience in identifying host surface sites, securing water surface use approvals, performing feasibility studies and managing PV projects, Aqua Clean Energy is the ideal partner for us in the floating PV market."

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

SOURCE Solar Power, Inc.

SOURCE: Solar Power, Inc.

SPI Signs Joint-Development Agreement to Develop Floating PV Projects

Targeting over 50 MW of PV projects in Southwestern US and Mexico

PR Newswire

SHANGHAI, March 19, 2015

SHANGHAI, March 19, 2015 /PRNewswire/ -- Solar Power, Inc. ("SPI") (OTCBB:SOPW), a vertically-integrated photovoltaic ("PV") project developer, today announced its partnership with Aqua Clean Energy (ACE) for the co-development of floating PV projects in California, Arizona, New Mexico, Texas and Mexico.

Under the terms of the agreement, ACE and SPI will co-develop an identified pipeline of floating PV projects in the licensed territories with an estimated combined size of over 50 megawatts (MW) by establishing a joint venture holding company, Aqua Clean Energy Fund, LLC.

The floating PV projects to be co-developed by ACE and SPI will implement an innovative floating solar platform, which allows standard PV panels to be installed on large bodies of water such as drinking water reservoirs, quarry lakes, irrigation canals or remediation and tailing ponds. The platform is composed of recyclable materials and has very low environmental impact, greatly reducing water evaporation thereby conserving irrigation and drinking water and slowing algae growth due to the shielding of the water by the floating island.

"Large-scale floating PV systems have increasingly shown their effectiveness in various settings, and this platform gives SPI a strong competitive advantage in this growing market segment," said Xiaofeng Peng, Chairman of SPI. "This technology not only generates clean solar power energy, but also serves to conserve water in critically dry regions like the Southwestern US and California in particular, which is now experiencing its fourth consecutive year of drought. With extensive experience in identifying host surface sites, securing water surface use approvals, performing feasibility studies and managing PV projects, Aqua Clean Energy is the ideal partner for us in the floating PV market."

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

SOURCE Solar Power, Inc.

Web Site: http://www.solarbao.com