SHANGHAI, May 26, 2015 /PRNewswire/ -- Solar Power, Inc. ("SPI") (OTCBB: SOPW), a vertically-integrated photovoltaic ("PV") developer, today announced that SPI and its wholly-owned subsidiary, SPI Solar Japan G.K. have entered into a strategic partnership agreement with K.K. Uniroot ("Uniroot"), a diversified Osaka-based corporation with significant solar PV project development interests, to jointly develop a pipeline of more than 500 megawatts (MW) of solar PV power plant projects in Japan.
Under the terms of the agreement, SPI will assume primary responsibility for certain functions including project funding, construction and equipment procurement, with Uniroot bearing primary responsibility for other matters including land purchase and lease, securing necessary permits, and obtaining power purchase agreements with local utilities, among others. SPI and Uniroot will establish a joint venture in Japan, in which SPI will hold no less than 51% equity interest, for the development of the Solar PV power plant projects.
"We are delighted to announce this partnership agreement with Uniroot to jointly develop solar PV power plants in Japan, one of SPI's core markets globally," said Xiaofeng Peng, Chairman of SPI. "Combining SPI's leading expertise in developing world-class PV power plants with Uniroot's deep local connections and experience in the Japanese solar market, we are confident that this a win-win partnership which will create significant value for both parties in the years ahead."
About Solar Power, Inc. (OTCBB: SOPW)
Solar Power, Inc. ("SPI" or the "Company") is a global leader in enabling photovoltaic ("PV") solutions for business, residential, government and utility customers and investors. SPI 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 also 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. The Company has its operating headquarters in Shanghai and global operations in Asia, Europe, North America and Australia.
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of SPI, its subsidiaries and the solar industry, which can be identified by the use of forward-looking terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "expects" or similar expressions. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Among other things, the quotations from management in this press release contain forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties, including uncertainties regarding whether the transactions contemplated will be successfully completed. All forward-looking statements are expressly qualified in their entirety by this cautionary statement and the risks and other factors detailed in the company's reports filed with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities law.
Amy Liu, Solar Power, Inc. +1 (800) 548-8767
SOURCE Solar Power, Inc.