Solar Power, Inc. ("SPI") (OTCBB:SOPW), a vertically-integrated photovoltaic ("PV") developer, today announced that SPI, together with its wholly owned subsidiary, SPI China (HK) Limited, has completed its previously announced acquisition of 4.3 megawatts ("MW") of photovoltaic projects in Italy from CECEP Solar Energy Hong Kong Co., Limited ("CECEP HK"), a wholly owned subsidiary of China Energy Conservation and Environmental Protection Group ("CECEP"), a top state-owned energy conglomerate in China.
Xiaofeng Peng, Chairman of SPI, stated, "This acquisition expands SPI's global PV operating asset portfolio, and marks the beginning of a close working alliance with CECEP, one of China's top state-owned energy conglomerates. Alongside our recently announced agreement with RE Projects Development to co-develop PV projects in the UK, this deal demonstrates SPI's growing presence in key European markets."
