September 4, 2014 - SPI Solar today announced that it has entered into an agreement with a London-based global renewables developer, to acquire the Developer's right to develop, finance, construct, own and operate two solar PV projects in the UK.
The solar energy projects located in the UK represent 30.5MW of anticipated annual solar energy generation capacity. The agreement also grants SPI the exclusive right to acquire and develop an additional 50MW of solar project development rights in the UK. This announcement underscores SPI's continued efforts to grow its presence in key global PV markets through strategic alliances with strong local developers.
HK Cheong, Chief Operating Officer of SPI, commented, "SPI is committed to establishing a significant presence in the UK solar market. We believe the UK offers some of the most compelling investment opportunities globally for solar project development that have strong potential for generating meaningful return on investment."
"We are pleased to announce a significant step forward for SPI in the UK solar market," said Xiaofeng Peng, Chairman of SPI. "The UK is one of our key geographic focus markets, and we will continue to invest globally where SPI sees potential for attractive returns on invested capital."
