LDK-backed Solar Power Inc. has signed an agreement to acquire a 30-megwatt portfolio of development projects in Japan.
The company, which has been on the acquisition trail since the beginning of the year, signed an agreement with Re Capital K.K., a subsidiary of China-based China Reinsurance Corp. to acquire the projects. Construction of the projects, located in Kanagawa, Chiba, Ibaraki, and Fukushima prefectures, will start in May 2015 with completion and grid-connection expected by the first quarter of 2016.
SPI and Re Capital also agreed to explore co-development opportunities of up to 100 MW of solar projects in Japan, subject to finalization of the agreement.
