SHANGHAI, Dec. 1, 2016 /PRNewswire/ -- SPI Energy Co., Ltd. ("SPI Energy" or the "Company") (Nasdaq: SPI), a global clean energy market place for business, residential, government and utility customers and investors, today announced that the Company's solar power plant located in Gonghe County, Qinghai Province with annual installed capacity of 20 Megawatts (the "Gonghe Plant") has received approximately RMB 20 million subsidy towards partial payment of the accrued renewable energy tariff period till April 2015 (the "Subsidy").
The Gonghe Plant was connected to grid in December 2013 and successfully registered into the sixth batch of the Renewable Energy Tariff Subsidy Catalogue (the "Catalogue") which was issued by the Ministry of Finance, National Development and Reform Commission and National Energy Administration and released on 23 September 2016.
Xiaofeng Peng, Chairman and Chief Executive Officer of the SPI Energy, commented, "With continuous efforts from the Chinese government to optimize energy structure, including policy initiatives and subsidies to promote the use of renewable energy in the coming years, owning high quality solar power plant projects in China eligible for tariff subsidies remains an attractive value proposition for the Company as we continue to explore opportunities for the investment, development and cooperation of high quality solar projects both in China and globally for the best interest of our shareholders. We expect the Gonghe Plant to receive future subsidies payable on a regular basis according to the Catalogue so long as it continues to meet the Catalogue's eligibility requirements."
About SPI Energy Co., Ltd.
SPI Energy Co., Ltd. is a global clean energy market place 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, residential/commercial solar power and storage projects, and clean energy solution provider 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.
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.
For investors and media inquiries please contact:
Investor Relations Department
SPI Energy Co., Ltd.
Tony Tian, CFA
Weitian Group LLC
+1 732 910 9692
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SOURCE SPI Energy Co., Ltd.