SPI Energy Announces Closing of Sale of UK Solar Project to Fund Managed by BlackRock

Mar 07, 2016, 07:30 ET from SPI Energy

SHANGHAI, March 7, 2016 /PRNewswire/ -- —SPI Energy Co., Ltd. ("SPI Energy" or the "Company") (Nasdaq: SPI), a global provider of photovoltaic (PV) solutions for business, residential, government and utility customers and investors, today announced that its wholly-owned subsidiary, SPI China (HK) Limited, has closed a transaction to sell the entire issued share capital of Solar Park Developments 2 Ltd ("Hall Farm"), which holds a solar power project in the United Kingdom with a rated capacity of approximately 15 megawatts ("MW"), to a fund managed by BlackRock, Inc. ("BlackRock"), a global leader in investment management, risk management and advisory services.

Located in Tasburgh, Norwich, the Hall Farm solar project commenced construction in the first quarter of 2015 and was connected to the grid in August 2015. The project is eligible to receive Renewables Obligation Certificates ("ROCs") at 1.3 ROCs/MWh for 20 years under the UK's Renewables Obligation ("RO") scheme.

"We are delighted to partner with BlackRock again on our third UK transaction during the past year," said Xiaofeng Peng, Chairman of SPI Energy. "BlackRock is one of the leading global infrastructure investors and this deal is a testament to SPI Energy's proven track record of delivering high quality solar power projects in the UK and worldwide."

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 Shanghai and maintains global operations in Asia, Europe, North America and Australia.

For additional information visit: www.spisolar.com, www.solarbao.com or www.solartao.com.

About BlackRock, Inc.

BlackRock is a global leader in investment management, risk management and advisory services for institutional and retail clients. At December 31, 2015, BlackRock's AUM was $4.645 trillion. BlackRock helps clients around the world meet their goals and overcome challenges with a range of products that include separate accounts, mutual funds, iShares® (exchange-traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. As of December 31, 2015, the firm had approximately 13,000 employees in more than 30 countries and a major presence in global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa. For additional information, please visit the Company's website at www.blackrock.com | Twitter: @blackrock_news | Blog: www.blackrockblog.com | LinkedIn: www.linkedin.com/company/blackrock.

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.

Contact:

Amy Liu
US cell: (800) 548 8767

SOURCE SPI Energy



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