Solar Power, Inc., (SPI) has signed a joint development agreement with SG Panama Solar LLC, a division of Greece’s SDL Solar, to develop, build, own and operate more than 100 MW of solar assets in Panama.
As part of the deal, SPI will provide technical and financial support to complete the development and implementation of the solar projects. The vertically-integrated PV developer will own a controlling stake in the new joint venture with SG Panama Solar.
SPI Chairman Xiaofeng Peng said the partnership expanded the company’s relationship with SDL Solar and marked the establishment of SPI’s presence in Latin America. SPI expects the region to become one of "the fastest growing solar markets in the world," Xiaofeng added.
"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. Sakellakis said SPI’s proven track record coupled with its financing capabilities would allow SDL to build and implement its projects "in the most time efficient manner."