SPI Energy Completes Sale of 1.015-Megawatt Solar Project in Maui, Hawaii
SPI Energy Co., Ltd. (NASDAQ: SPI) announced the successful sale of a 1.015 MW solar project on Maui, Hawaii, marking the completion of its thirteenth ground-mounted utility solar project in the state. The project sells electricity to the Hawaiian Electric Company and reflects SPI's commitment to Hawaii's renewable energy goals. This initiative aligns with the Hawaii Clean Energy Initiative, aiming for a 100% renewable energy portfolio by 2045. The global renewable energy market is projected to surpass $1.5 trillion by 2025, emphasizing growth potential in this sector.
- Sale of 1.015 MW solar project in Maui enhances SPI's portfolio in Hawaii.
- Total of 13 utility solar projects completed in Hawaii, demonstrating operational success.
- Alignment with Hawaii's goal of 100% renewable energy by 2045, indicating commitment to sustainable practices.
- Growth potential highlighted by the renewable energy market projected to exceed $1.5 trillion by 2025.
- None.
SANTA CLARA, CA / ACCESSWIRE / November 19, 2020 / SPI Energy Co., Ltd., (NASDAQ:SPI) (the "Company"), a global renewable energy company and provider of photovoltaic (PV) and electric vehicle (EV) solutions for business, residential, government, logistics and utility customers and investors, today announced that its wholly-owned SPI Solar, Inc. ("SPI Solar") subsidiary completed the sale of a 1.015 megawatt ("MW") solar project located on Hawaii's Maui island. The solar project actively sells the clean electricity it generates to the Hawaiian Electric Company.
"The successful development and sale of this solar project on Maui further showcases our commitment to the state of Hawaii as this is the fifth project completed on the island and thirteenth ground-mounted utility solar project completed in Hawaii by SPI," said Xiaofeng Peng, Chairman and CEO of SPI Energy. "We are delighted to contribute to the State of Hawaii's goals of reaching
Under the Hawaii Clean Energy Initiative, Hawaii is working to become the nation's first-ever
The global renewable energy market was valued at
About SPI Energy
SPI Energy Co., Ltd. (SPI) is a global renewable energy company and provider of photovoltaic (PV) and electric vehicle (EV) solutions for business, residential, government, logistics and utility customers and investors. The Company provides a full spectrum of EPC services to third-party project developers, as well as develops, owns and operates solar projects that sell electricity to the grid in multiple countries, including the U.S., the U.K., Greece, Japan and Italy. The Company has its US headquarters in Santa Clara, California and maintains global operations in Asia, Europe, North America and Australia. SPI is also targeting strategic investment opportunities in green industries such as battery storage and charging stations, leveraging the Company's expertise and growing base of cash flow from solar projects and funding development of projects in agriculture and other markets with significant growth potential.
For more information on SPI Energy and its subsidiaries, the Company recommends that stockholders, investors and any other interested parties read the Company's public filings and press releases available under the Investor Relations section at www.SPIgroups.com or available at www.sec.gov.
Forward-Looking Statements
This press release contains forward-looking statements, as that term is defined in the Private Litigation Reform Act of 1995, that involve significant risks and uncertainties. Forward-looking statements can be identified through the use of words such as may," "might," "will," "intend," "should," "could," "can," "would," "continue," "expect," "believe," "anticipate," "estimate," "predict," "outlook," "potential," "plan," "seek," and similar expressions and variations or the negatives of these terms or other comparable terminology. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect the Company's current expectations and speak only as of the date of this release. Actual results may differ materially from the Company's current expectations depending upon a number of factors. These factors include, among others, the coronavirus (COVID-19) and the effects of the outbreak and actions taken in connection therewith, adverse changes in general economic and market conditions, competitive factors including but not limited to pricing pressures and new product introductions, uncertainty of customer acceptance of new product offerings and market changes, risks associated with managing the growth of the business, and those other risks and uncertainties that are described in the "Risk Factors" section of the Company's annual report filed on Form 20-F filed with the Securities and Exchange Commission. Except as required by law, the Company does not undertake any responsibility to revise or update any forward-looking statements.
CONTACT:
SPI Energy Co., Ltd.
IR Department
Email: ir@spigroups.com
Dave Gentry
RedChipCompanies, Inc.
Phone:(407) 491-4498
dave@redchip.com
SOURCE: SPI Energy Co., Ltd.
View source version on accesswire.com:
https://www.accesswire.com/617478/SPI-Energy-Completes-Sale-of-1015-Megawatt-Solar-Project-in-Maui-Hawaii
FAQ
What is the significance of SPI Energy's recent solar project sale?
How many solar projects has SPI Energy completed in Hawaii?
What are Hawaii's renewable energy goals?
What impact does the global renewable energy market have on SPI Energy?
Who does SPI Energy sell electricity to from its Maui project?
