Platform to host innovative i nvestment products allowing investors to benefit from - and contribute to - the growth of solar energy in China
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).
www.solarbao.com
