SPI opens subsidiary to address Japan solar PV market

SPI has entered into agreements regarding the acquisition and development of three solar photovoltaic projects in Japan. The first is a 1.975 megawatt (MW) project in Bando City, Ibaraki Prefecture. SPI Solar Japan GK will provide project development, financing, as well as engineering, procurement and construction (EPC) services for the project, with construction estimated to commence in October 2014 and to be completed during the first quarter of 2015. Capacities of the other two projects are 16 MW and 1.8 MW, respectively, and SPI Solar Japan GK will also provide project development, financing, as well as EPC services starting in the fourth quarter of 2014. Xiaofeng Peng, Chairman of SPI, added, “We are very pleased that SPI Solar Japan GK has become a reality. Japan is one of our key target markets globally, and this announcement brings us another step closer to establishing SPI as a preeminent global solar project developer.”