SPI Energy Announces Sale of Sun Roof II and Sun Roof V Solar Projects in Italy
October 01 2019 - 3:30AM
SPI Energy Co., Ltd. ("SPI Energy" or the "Company") (NASDAQ: SPI),
a global provider of green energy solutions for business,
residential, government and utility customers and investors, today
announced the closing on the sale of Sun Roof II and Sun Roof V to
Theia Investments (Italy) S.r.l. (“Theia”) a company established by
an infrastructure fund managed by Stafford Capital Partners
(“Stafford”), a leading private markets investment and advisory
group.
Sun Roof II, comprised of three rooftop solar projects totaling
1.83 MW located in Sassari, Italy, and Sun Roof V, a 1 MW rooftop
solar project located in Cisterna di Latina, Italy, have been in
operation since 2012. Theia paid approximately EUR 5.4
million to complete the transaction. The Company will use the
proceeds to fund its strategic investments in green industries with
significant growth and earnings potential, such as hemp and alfafa
cultivation and CBD processing; and for other general working
capital purposes. Emel Solar Limited (UK) (“Emel Solar”), a
leading global renewable energy advisor advised SPI Energy on the
sale to Theia.
Mr. Xiaofeng Peng, Chief Executive Officer of SPI Energy,
commented, "We are excited about the successful sale of Sun Roof II
and Sun Roof V to Theia. The sale is part of our strategic plan to
consolidate our solar platform in Europe as we continue to grow our
solar projects pipeline in the United States with the acquisition
of the Oregon Portfolio that was previously announced; and to fund
our strategic investments in green industries with significant
growth and earnings potential.”
Mr. Angelo Prete representing Theia commented, “We are pleased
to have worked with SPI Energy and Emel Solar towards the
successful acquisition of Sun Roof II and Sun Roof V in Italy and
we plan to soon acquire further solar projects in the Italian
market, which is significant in Theia’s renewable energy investment
program.”
About SPI Energy Co., Ltd.
SPI Energy Co., Ltd. is an established green energy player with
global operations in key markets in Australia, Europe, Japan and
the United States. It is leveraging its solar platform and industry
expertise to make strategic investment opportunities in green
industries with significant growth and earnings potential and/or
industries than can benefit from green power.
About Theia
Theia is ultimately wholly owned by Stafford Capital Partners
Fund S.C.A. SICAV – SIF and was established to acquire operating
solar projects with an initial focus on Italy. Stafford Capital
Partners is a leading private markets investment and advisory group
with a global presence and USD 5.3 billion under management and
advice. Stafford works with a wide range of institutions to
deliver returns through active investing across the private
markets. Stafford works diligently and creatively to find the best
investment opportunities across a range of market sectors and
access these opportunities through a sustainable blend of primary,
secondary and co-investments.
For inquiries, please contact:
SPI Energy Co., Ltd.IR Departmentir@spigroups.com
RedChip Companies Bruce Haase (407) 712-8965
bruce@redchip.com
SPI Energy (NASDAQ:SPI)
Historical Stock Chart
From Mar 2024 to Apr 2024
SPI Energy (NASDAQ:SPI)
Historical Stock Chart
From Apr 2023 to Apr 2024