SHANGHAI, Jan. 20, 2015 /PRNewswire/ -- Solar Power, Inc. ("SPI") (OTCBB: SOPW), a vertically-integrated photovoltaic ("PV") developer, today unveiled its energy Internet strategy with the launch of its online investment platform, www.solarbao.com ("Solarbao.com").
The new online investment platform enables individual and institutional investors to purchase innovative capital leasing investment products designed to generate stable long-term returns. Through Solarbao.com, investors can make online purchases of modules comprised of solar panels and kits which are then leased for use in specified PV projects in China. In addition to a set annual return, investors will gain carbon credits, or "carbon beans", for each kilowatt hour of energy generated from their solar investment. Investors can also choose to purchase modules or Yes!® solar kits online at Solarbao.com for resale, or for use in their own PV projects with installation and financing services provided by SPI.
Solarbao.com's initial investment products offer set annual returns of 10% for investments associated with SPI's PV project located in Hebei province and 9% for investments associated with SPI's PV project located in Guangdong province. In the future, Solarbao.com expects it will primarily offer investment products with annual returns in the range of 4% to 8%.
Following upon the recent relocation of SPI's operating headquarters from the United States to Shanghai, China, this first-of-its kind Internet energy platform is the next step in SPI's strategy to become a global solar leader providing a fully integrated PV ecosystem encompassing financing, design, construction and operation of PV projects. SPI intends to launch the English version of Solarbao.com in February 2015 which will target consumers and investors outside mainland China.
Commenting on the announcement, Mr. Xiaofeng Peng, Chairman of SPI said, "SPI's innovative new online platform, Solarbao.com, leverages Internet finance to support the construction of large-scale, small commercial and residential PV projects across China, while meeting the increasing demand for high-quality, fixed-income investment products. By facilitating their actual ownership of solar modules, Solarbao.com allows investors to contribute to the build out of renewable energy in China, while also providing an opportunity to generate stable long-term returns."
"With the Chinese government's demonstrated commitment to developing large-scale sources of sustainable green energy, we believe Solarbao.com will bring significant benefits to PV project owners, investors, the renewable energy industry and the environment."
According to the Global Renewable Energy Report 2014, China became the world's biggest market for solar power in 2013 with the country's newly installed photovoltaic generating capacity jumping 232% to 12 gigawatts (GW).
About Solar Power, Inc. (OTCBB: SOPW)
SPI Solar ("SPI" or the "Company") (Solar Power, Inc.) is a global leader in enabling solar 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. The Company has its operating headquarters in Shanghai and global operations in Asia, North America and Europe.
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.
Contact: Amy Liu, Solar Power, Inc. (800) 548-8767
SOURCE Solar Power, Inc.