HONG KONG, March 14, 2017 (GLOBE NEWSWIRE) -- SPI Energy Co., Ltd. (“SPI Energy” or the “Company”) (NASDAQ:SPI), a global clean energy market place for business, residential, government and utility customers and investors, today announced that its wholly owned subsidiary, SPI Solar Japan GK ("SPI Japan"), has entered into a definitive agreement to sell all of its interest in the land and project development rights in its two solar PV projects with total capacity of 4.8 megawatt (MW) in Shibayama city, Chiba. SPI Japan will also provide engineering, procurement and construction ("EPC") service to complete the projects.
The solar plants are located approximately 50 kilometres east of Tokyo in Chiba and each with capacity of 2.4 MW and with an estimated total capacity of 5,200,000 kWh annually.
The sale is subject to closing conditions, and is expected to close in July 2017.
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 Hong Kong 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.