It expects to finalize the sale of the two projects by July, according to an online statement.
SPI Japan did not disclose additional details about the deal, but said that it will still provide EPC services for the arrays in Shibayama, Chiba prefecture,
SPI Energy — best known for its online Solarbao platform, which helps retail investors in China make small investments in solar projects — recently shifted its global headquarters from Shanghai to Hong Kong.
In January, the NASDAQ regulator threatened to de-list SPI Energy’s shares, less than a year after the company started trading on the NASDAQ Global Select Market.
The market regulator gave the company 60 days to submit its results for the second quarter of 2016 in order to remain listed. The stock closed up 8.1% on Tuesday afternoon in New York at $1.20.
SPI Energy— which is led by chief executive Xiaofeng Peng, the founder of LDK Solar — was also late in reporting its full-year $185 million loss for 2015, which followed a string of annual losses from 2012-14.
In February, SPI Energy revealed that it had secured a £5.15 million ($6.3 million), 10-year loan facility from Spanish lender Santander to refinance an 8.1 MW solar portfolio in the UK.