Solar Power Inc. has signed an agreement to acquire 12.3 megawatts of solar projects in Italy and in the US.
Solar Power unit SPI China (HK) Ltd. signed the agreement with LDK Solar Europe Holding S.A. and LDK Solar USA, Inc. to the plants. The assets include 4.5MW of solar PV projects in Italy and 7.8 MW in California. Financial details were not disclosed.
Under the terms of the share purchase agreement, SPI will acquire all of the outstanding capital stock of the holding companies of the projects
The deal is subject to several closing conditions including completion of satisfactory due diligence.
“We are pleased to announce this agreement which, upon closing, will add significant in-operation assets in Europe and the US to SPI’s globally diversified PV portfolio,” said Xiaofeng Peng, Chairman of SPI. “The acquisition of high-quality assets in key markets will continue to be an important part of our strategy to strengthen SPI’s global presence.”