SANTA CLARA, CA / ACCESSWIRE / November 19, 2020 / SPI Energy Co.,Ltd., (NASDAQ:SPI) (the "Company"), a global renewable energy companyand provider of photovoltaic (PV) and electric vehicle (EV) solutions forbusiness, residential, government, logistics and utility customers andinvestors, today announced that its wholly owned SPI Solar, Inc. ("SPISolar") subsidiary completed the sale of a 1.015 megawatt (“MW”) solar project located on Hawaii’s Maui island. The solar project actively sells the clean electricity it generatesto the Hawaiian Electric Company.
"The successful development and sale of this solar project on Maui furthershowcases our commitment to the state of Hawaii as this is the fifth projectcompleted on the island and thirteenth ground-mounted utility solar projectcompleted in Hawaii by SPI," said Xiaofeng Peng,Chairman and CEO of SPI Energy. "We are delighted to contribute to theState of Hawaii’s goals of reaching 100% renewable energy by 2045 and will lookto continue to expand our developments in other regions of the US as well as globally.”
Under the Hawaii Clean Energy Initiative, Hawaii is working to become thenation’s first-ever 100% renewable energy portfolio. The Hawaii Clean EnergyInitiative is a partnership between the State of Hawaii and the U.S. Departmentof Energy that launched in 2008. It brings together business leaders,policy makers, and concerned citizens committed to leading Hawaii to energyindependence.
The global renewable energy market was valued at $928 billion in 2017 and isexpected to surpass $1.5 trillion by 2025, according to data from Allied MarketResearch.
About SPI Energy
SPI Energy Co., Ltd. (SPI) is a global renewable energy company and providerof photovoltaic (PV) and electric vehicle (EV) solutions for business,residential, government, logistics and utility customers and investors. TheCompany provides a full spectrum of EPC services to third party projectdevelopers, as well as develops, owns and operates solar projects that sellelectricity to the grid in multiple countries, including the U.S., the U.K.,Greece, Japan and Italy. The Company has its US headquarters in Santa Clara,California and maintains global operations in Asia, Europe, North America andAustralia. SPI is also targeting strategic investment opportunities in greenindustries such as battery storage and charging stations, leveraging theCompany's expertise and growing base of cash flow from solar projects andfunding development of projects in agriculture and other markets withsignificant growth potential.
For more information on SPI Energy and its subsidiaries, the Company recommendsthat stockholders, investors and any other interested parties read theCompany's public filings and press releases available under the InvestorRelations section at www.SPIgroups.com oravailable at www.sec.gov.
This press release contains forward-looking statements, as that term isdefined in the Private Litigation Reform Act of 1995, that involve significantrisks and uncertainties. Forward-looking statements can be identified throughthe use of words such as may," "might," "will,""intend," "should," "could," "can,""would," "continue," "expect," "believe,""anticipate," "estimate," "predict,""outlook," "potential," "plan," "seek,"and similar expressions and variations or the negatives of these terms or othercomparable terminology. Readers are cautioned not to place undue reliance onthese forward-looking statements, which reflect the Company's currentexpectations and speak only as of the date of this release. Actual results maydiffer materially from the Company's current expectations depending upon anumber of factors. These factors include, among others, the coronavirus(COVID-19) and the effects of the outbreak and actions taken in connection therewith,adverse changes in general economic and market conditions, competitive factorsincluding but not limited to pricing pressures and new product introductions,uncertainty of customer acceptance of new product offerings and market changes,risks associated with managing the growth of the business, and those otherrisks and uncertainties that are described in the "Risk Factors"section of the Company's annual report filed on Form 20-F filed with theSecurities and Exchange Commission. Except as required by law, the Company doesnot undertake any responsibility to revise or update any forward-lookingstatements.
SPI Energy Co., Ltd.
SOURCE: SPI Energy Co., Ltd.