SPI Energy Announces Sale of Sun Roof I Solar Project in Italy
HONG KONG and SANTA CLARA, Calif., March 16, 2020 (GLOBE NEWSWIRE) — SPI Energy Co., Ltd. (“SPI Energy” or the “Company”) (NASDAQ: SPI), a global provider of green energy solutions for business, residential, government, utility customers, and investors, today announced the closing of the sale of its Sun Roof I assets, a 479 kWp rooftop solar project located in Aprilia, Italy, that has been in operation since 2012.
Proceeds from the sale were approximately EUR 1.1 million before transaction fees, strengthening the Company’s balance sheet and providing additional capital for the development of solar assets in the US. Mr. Xiaofeng Peng, Chief Executive Officer of SPI Energy, commented, “We are excited about the successful sale of Sun Roof I, which followed the sale of Sun Roof II and Sun Roof V to the same buyer. The sale is part of our strategic plan to consolidate our solar platform in Europe as we continue to grow our solar projects pipeline in the United States, such as the recently announced acquisition of the Oregon Portfolio.”About SPI Energy Co., Ltd.SPI Energy Co., Ltd. (the “Company”) is a global provider of photovoltaic (“PV”) solutions for business, residential, government and utility customers and investors. The Company develops solar PV projects that are either sold to third party operators or owned and operated by the Company for selling of electricity to the grid in multiple countries in Asia, North America and Europe. The Company’s subsidiary in Australia primarily sells solar PV components to retail customers and solar project developers. The Company has its operating headquarter in Hong Kong and its U.S. office in Santa Clara, California. The Company maintains global operations in Asia, Europe, North America and Australia.For inquiries, please contact:SPI Energy Co., Ltd.IR DepartmentEmail: ir@spigroups.comRedChip Companies
Bruce Haase
(407) 712-8965
bruce@redchip.com
Proceeds from the sale were approximately EUR 1.1 million before transaction fees, strengthening the Company’s balance sheet and providing additional capital for the development of solar assets in the US. Mr. Xiaofeng Peng, Chief Executive Officer of SPI Energy, commented, “We are excited about the successful sale of Sun Roof I, which followed the sale of Sun Roof II and Sun Roof V to the same buyer. The sale is part of our strategic plan to consolidate our solar platform in Europe as we continue to grow our solar projects pipeline in the United States, such as the recently announced acquisition of the Oregon Portfolio.”About SPI Energy Co., Ltd.SPI Energy Co., Ltd. (the “Company”) is a global provider of photovoltaic (“PV”) solutions for business, residential, government and utility customers and investors. The Company develops solar PV projects that are either sold to third party operators or owned and operated by the Company for selling of electricity to the grid in multiple countries in Asia, North America and Europe. The Company’s subsidiary in Australia primarily sells solar PV components to retail customers and solar project developers. The Company has its operating headquarter in Hong Kong and its U.S. office in Santa Clara, California. The Company maintains global operations in Asia, Europe, North America and Australia.For inquiries, please contact:SPI Energy Co., Ltd.IR DepartmentEmail: ir@spigroups.comRedChip Companies
Bruce Haase
(407) 712-8965
bruce@redchip.com
