SPI Expands into Latin America, targets over 100MW of solar in Panama

SHANGHAI | March 24, 2015 — Solar Power, Inc. has entered into a Joint Development Agreement with SG Panama Solar LLC, a division of SDL Solar, to develop, build, own and operate solar assets.

The agreement calls for SPI to provide technical and financial support to complete the development and implementation of over 100 megawatts (MW) of identified solar projects in the Republic of Panama by establishing a joint venture with SG Panama Solar LLC, in which SPI will hold a controlling interest.

Xiaofeng Peng, Chairman of SPI, said, “The partnership announced today expands our relationship with leading PV developer SDL Solar and marks the establishment of SPI’s presence in Latin America, which we expect to become one of the fastest growing solar markets in the world.”

“We are delighted to partner with SPI to support the development of our pipeline of solar projects in Panama,” said Manny Sakellakis, managing member of SDL Solar. “SPI’s proven track record coupled with its financing capabilities will allow SDL Solar to build and implement our projects in the most time efficient manner.”