Shanghai /PRNewswire/ - SPI Energy Co., Ltd. ("SPI Energy" or the "Company") (Nasdaq: SPI), a global provider of photovoltaic (PV) solutions for business, residential, government and utility customers and investors, today announced that its subsidiary Xinwei Solar Power Engineering (Suzhou) Co., Ltd. has signed two new EPC contracts in China. A 40 megawatt (MW) PV power generation project with Inner Mongolia Jitong New Energy Technology Co., Ltd. and a 6MW project with Linze County Tianheng New Energy Co., Ltd.
Under the contracts, SPI Energy will provide a wide range of services from engineering and procurement to construction and distribution for the second phases of these projects. Located in Inner Mongolia province, the Jitong New Energy project will generate a total of 50MW of power when phase two is complete, while the Linze Tianheng project in Gansu province will generate a total of 12MW. The projects are scheduled to be completed by the end of 2017.
"These projects add to SPI Energy's strategy of delivering high quality solar plants and supplying more clean energy to the grid in China," said Xiaofeng Peng, Chairman and CEO of SPI Energy. "SPI Energy has successfully completed the first phase of these projects and we are delighted to be awarded the remaining EPC work as well. This is a testament to the strong focus on quality and efficiency of our experienced team."
About SPI Energy Co., Ltd.
SPI Energy Co., Ltd. is a global provider of photovoltaic (PV) solutions for business, residential, government and utility customers and investors. SPI Energy 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 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; as well as www.solartao.com, a B2B e-commerce platform offering a range of PV products for both upstream and downstream suppliers and customers. The Company has its operating headquarters in Shanghai and maintains global operations in Asia, Europe, North America and Australia.
Safe Harbor Statement
This release contains certain "forward-looking statements." These statements are forward-looking in nature and subject to risks and uncertainties that may cause actual results to differ materially. All forward-looking statements included in this release are based upon information available to the Company as of the date of this release, which may change, and the Company undertakes no obligation to update or revise any forward-looking statements, except as may be required under applicable securities law.
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