SPI to acquire Germany's Energiebau

Solar Power Inc. (SPI), the China-headquartered solar developer, has announced today that one of its wholly owned subsidiaries is to acquire certain assets of German solar wholesaler Energiebau Solar Power GmbH.

The German company was renamed in January after being purchased by Innotech following its insolvency in November 2014. Today’s development sees the Energiebau brand – which was rated by independent market research institute EuPD Research as the Top PV Wholesale supplier in 2012, 2013 and 2014 – come under SPI’s portfolio, and marks yet another development for the company.

In November last year the PV wholesaler filed for insolvency following a few difficult years in the European PV industry. At the beginning of the year, Scandinavian-German PV module manufacturer Innotech Solar acquired the company, acting as a strategic investor of the brand to ensure that the majority of Energiebau staff were able to keep their jobs.

SPI’s acquisition is viewed by the Chinese developer as something of a coup as it targets European markets, with company chairman Xiaofeng Peng remarking that the Energiebau name has “long been synonymous with quality in the European PV market” – a market that has undergone a series of tumultuous changes in recent years.

"Despite this cyclicality," added Peng, "we believe that this market remains extremely lucrative for providers of distribution, next-generation PV technologies and other value-added services, and we are confident this transaction gives SPI the strongest local platform to capture this tremendous market opportunity."

Peng said that he hopes the Energiebau brand can be revitalized and create value for SPI customers, shareholders and partners.