Spi Energy Stock Price, News & Analysis

SPI Energy Co., Ltd. (NASDAQ: SPI) announced the launch of a new website for its subsidiary, SolarJuice’s Solar4America, aimed at showcasing solar products and installation services. The site will feature e-commerce capabilities for solar PV kits and energy storage solutions. With significant demand anticipated, installations are expected to begin in Q2 2021. The global solar market is projected to grow from $52.5 billion in 2018 to $223.3 billion by 2026, indicating robust growth prospects for SPI Energy.

SPI Energy Co., Ltd. (NASDAQ:SPI) announced the full repayment of a Convertible Promissory Note totaling US$13.4 million owed to Union Sky Holding Group Limited. This repayment eliminates the CB and its associated liabilities from SPI's balance sheet, enhancing its financial position. The initial amount of the note was US$20 million, with a previous tranche of US$6.6 million paid in October 2020. Chairman Xiaofeng Peng expressed satisfaction, noting that this step supports the company’s future growth strategy sustainably.

SPI Energy Co., Ltd. (NASDAQ: SPI) will present at the Inaugural Emerging Growth Virtual Conference, hosted by M Vest LLC and Maxim Group LLC, on March 17-18, 2021. The conference features discussions with C-suite executives, fireside chats, and presentations from various issuers on renewable energy and electric vehicles. SPI's Phoenix Motorcars will participate alongside other leaders in the EV sector. For more details on attending this conference, visit the event page.

SPI Energy Co., Ltd. (NASDAQ:SPI) announced a partnership with Common Energy to enroll customers in its six community solar projects in Oregon's Portland General Electric territory. The projects, totaling 17 MW, are expected to generate over 24 million kWh of clean electricity annually, preventing over 16 million pounds of carbon emissions. The Oregon Community Solar Program allows households and businesses to subscribe for free, receiving credits that reduce their electricity costs. SPI aims to provide cost-effective energy solutions through this initiative.

SPI Energy announced the appointment of Kemp Qiu as Chief Products Officer of Solar4America, enhancing its leadership in the renewable energy sector. Qiu, a solar industry veteran, co-founded LeadSolar, achieving significant revenue and product innovation. He will focus on developing smart renewable energy solutions for the residential and small commercial markets. This strategic move comes as the global solar market is projected to grow significantly, from $52.5 billion in 2018 to $223.3 billion by 2026, highlighting the potential for SPI Energy's continued growth.

SPI Energy Co., Ltd. (NASDAQ:SPI) will participate in the 33rd Annual ROTH Growth Conference on March 16-17, 2021. This virtual event aims to connect emerging growth companies with institutional investors and high-net-worth individuals. Previously, ROTH has attracted over 5,000 attendees and close to 550 companies. SPI Energy focuses on renewable energy solutions, including solar storage and electric vehicle services, and operates in multiple countries including the U.S. and Japan. For registration details, visit here.

SPI Energy Co., Ltd. (NASDAQ:SPI) has signed a long-term lease for nearly 58,000 square feet at the Preston Tech Center in Livermore, California. This facility will consolidate existing operations from Pleasanton and Livermore, enhancing logistics capabilities. The strategic location supports growth in solar and EV solutions, with plans for EV chargers and solar PV installations. CEO Denton Peng emphasized that the new headquarters nearly doubles their Bay Area space, facilitating increased hiring and supporting expanding consumer solar and roofing projects amidst a growing global solar market, valued at $52.5 billion in 2018 and projected to reach $223.3 billion by 2026.

SPI Energy Co., Ltd. (SPI) has announced a contract through its subsidiary SolarJuice with the Aboriginal Housing Office (AHO) in New South Wales, Australia, to supply solar photovoltaic (PV) systems to up to 2,600 properties. This initiative, covering approximately 8.5 megawatts (MW) of solar PV, aims to reduce electricity costs for indigenous families and create jobs under a $212 million NSW government stimulus package. The rollout is set to begin in March 2021.

SPI Energy Co., Ltd. (NASDAQ:SPI) has announced the successful acquisition of assets and intellectual property from Petersen-Dean, Inc., a major US solar and roofing company, following court approval. This acquisition allows Solarjuice American, a subsidiary of SPI, to enhance its solar, battery, and re-roofing installation services. SPI aims to leverage Petersen-Dean's existing projects while expanding its renewable and roofing energy segments. The US solar market saw a 43% growth in installations in 2020 and is projected to grow at a 17.3% CAGR through 2025.