SPI Solar acquires Solar Green Technologies from LDK Solar

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SPI Solar acquires Solar Green Technologies from LDK Solar

Greentech Lead Europe: SPI Solar, a vertically integrated
photovoltaic solar developer, has acquired Italy-based EPC Contractor Solar
Green Technologies (“SGT”) from LDK Solar Europe Holdings for approximately €5
million. With this acquisition, SPI expects immediate addition in EPC revenue
through SGT’s existing contracts in Italian Rooftop Solar Market.

“In addition to providing a base for our business
development and EPC activities as we expand our European efforts, SGT’s revenue
and profitability goals align seamlessly with SPI’s. More importantly, this
acquisition will enable SPI to accelerate our ramp toward our three-year goal
of potentially developing approximately 500 megawatts in solar projects per
year,” said Stephen Kircher, CEO for SPI Solar. 

SGT’s current book of business and pipeline of projects
are currently expected to generate immediate revenue
and earnings for SPI both near term and on an ongoing basis. SGT’s current
booked pipeline consists of 20MW of rooftop solar installations for the Century
program serving as EPC provider for approximately 33 distributed generation
systems as well as Epicuro Fund’s 25MW project pipeline for another 30-40
systems.

 “We are very happy to be part of the SPI Solar
team. The combination of our companies provides SPI Solar with an even stronger
European presence. From an organizational perspective, we have many
complementary resources that we can leverage to extend SPI’s reach throughout
Europe and beyond,” said Angelo Prete, Managing Director of Solar Green
Technology. 

BLT Enterprises selects SPI Solar and Pacific Edison for 400 kW
solar project at Volkswagen Laboratory

Recently, BLT Enterprises selected SPI Solar to build a
400 kW DC distributed generation PV solar energy facility to help power
operations at Volkswagen’s U.S. Test Center California. The project was jointly
developed by Pacific Edison and SPI. The center, currently under construction
by an affiliate of BLT Enterprises, is a 63,500 square-foot facility.

[email protected]

 

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