SPI Energy Announces Sale of Sun Roof I SolarProject in Italy
HONG KONG and SANTACLARA, California, March 16, 2020 (GLOBE NEWSWIRE) -- SPI Energy Co., Ltd.("SPI Energy" or the "Company") (NASDAQ: SPI), a globalprovider of green energy solutions for business, residential, government,utility customers, and investors, today announced the closing of the sale ofits 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 beforetransaction fees, strengthening the Company’s balance sheet and providingadditional capital for the development of solar assets in the US.
Mr.Xiaofeng Peng, Chief Executive Officer of SPI Energy, commented, "We areexcited about the successful sale of Sun Roof I, which followed the sale of SunRoof II and Sun Roof V to the same buyer. The sale is part of our strategicplan to consolidate our solar platform in Europe as we continue to grow oursolar projects pipeline in the United States, such as the recently announcedacquisition of the Oregon Portfolio.”
About SPI Energy Co., Ltd.
SPIEnergy Co., Ltd. (the “Company”) is a global provider of photovoltaic (“PV”)solutions for business, residential, government and utility customers andinvestors. The Company develops solar PV projects that are either sold to thirdparty operators or owned and operated by the Company for selling of electricityto the grid in multiple countries in Asia, North America and Europe. TheCompany’s subsidiary in Australia primarily sells solar PV components to retailcustomers and solar project developers. The Company has its operatingheadquarter in Hong Kong and its U.S. office in Santa Clara, California. TheCompany maintains global operations in Asia, Europe, North America andAustralia.
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