Solar Power, Inc. (SPI) is set to acquire 30 MW of solar PV projects in Japan.
The Shanghai-based PV developers Japanese unit, SPI Solar Japan G.K., signed an unspecified interest sale and purchase agreement with Re Capital K.K., a subsidiary of China Reinsurance (China Re), to acquire the development rights of approximately 30 MW of solar PV projects in the country.
SPI said it expected construction of the projects, located in Japan's Kanagawa, Chiba, Ibaraki and Fukushima prefectures, to begin in May 2015, with completion and connection to the grid for all of the projects expected by the first quarter of 2016.
In addition, SPI and Re Capital K.K. also agreed to explore co-development opportunities of up to 100 MW of additional solar PV projects in Japan, subject to finalization of the deal.
"Today's announcement marks an exciting expansion of our business activities in Japan, one of SPI's core markets," said SPI Chairman Xiaofeng Peng. "The agreement also marks the beginning of our strategic collaboration with China Re to explore new opportunities in the global solar PV market."
On Tuesday, SPI announced a deal with Global Renewable to acquire 50 MW of solar PV projects in the United Kingdom.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: email@example.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.