SPI Energy Co., Ltd. Completes Acquisition of 1.998 Megawatts of Solar PV Projects in Greece
March 21 2019 - 4:30AM
SPI Energy Co., Ltd. ("SPI Energy" or the "Company") (NASDAQ: SPI),
a global provider of renewable energy solutions and crypto-miner
hosting services for residential, commercial and utility customers,
today announced that SP Orange Power (Cyprus) Limited (“ SP
Orange”), a subsidiary of the Company, has completed its previously
announced second-stage acquisition of 100% of the equity interest
of HELIOHRISI S.A., which owns 1.998 megawatts ("MW") of
photovoltaic projects in Greece, from THERMI TANEO Venture Capital
Fund (“TTVCF”) with the purchase price of EUR € 1.7 million per MW.
SPI Energy also entered into an amendment to the Framework
Share Purchase Agreement dated September 20, 2017, pursuant to
which SPI Energy’s acquisition of THERMI SUN S.A would be delayed
until no later than May 20 2019.
The framework share purchase provides that SPI
Energy, through its subsidiary, would acquire 100% equity interests
of three Greek companies, namely THERMI SUN S.A, HELIOHRISI S.A.,
and HELIOSTIXIO S.A., from TTVCF, subject to certain adjustments
and certain closing conditions. These three companies own a total
of four PV plants with 7.4MWp PV installations in northern Greece.
The installations have been connected to the Greek power grid since
July 2012 and are currently in operation.
SPI Energy closed the acquisition of HELIOSTIXIO
S.A. on December 13, 2017. The Company expects to complete the
acquisition of THERMI SUN S.A., which would be the last acquisition
under the terms of the framework agreement by May 2019.
About SPI Energy Co., Ltd.
SPI Energy Co., Ltd. is a global provider of
renewable energy solutions and crypto-miner hosting services for
residential, commercial and utility customers. SPI Energy focuses
on the EPC/BT, and storage markets including the development,
financing, installation, operation and sale of utility-scale and
residential PV projects in Japan, Europe and North America. The
company operates a B2B E-Commerce platform offering a range of PV,
storage products in Australia as well as a turnkey solution
(umining.io) offering global crypto-mining training, sale, hosting
and repair service. The Company has its operating headquarters in
Hong Kong and Santa Clara, California and maintains global
operations in Asia, Europe, North America and Australia.
For additional information, please visit:
http://www.spigroups.com/investorrelations/overview
For investors and media inquiries please
contact:
SPI Energy Co., Ltd.
IR Department
Email: ir@spigroups.com
Source: SPI Energy Co., Ltd.
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