PV project developer, SPI Solar, has completed its private placement of newly issued shares that raised a total of US$21.75 million in new funding.
The company said that the net proceeds would be used for working capital purposes as well as to pay down debt, while improving SPI Solar's operational flexibility.
This article requires Premium SubscriptionBasic (FREE) Subscription
Unlock unlimited access for 12 whole months of distinctive global analysis
Photovoltaics International is now included.
- Regular insight and analysis of the industry’s biggest developments
- In-depth interviews with the industry’s leading figures
- Unlimited digital access to the PV Tech Power journal catalogue
- Unlimited digital access to the Photovoltaics International journal catalogue
- Access to more than 1,000 technical papers
- Discounts on Solar Media’s portfolio of events, in-person and virtual
Or continue reading this article for free
Majority owned by struggling LDK Solar, SPI Solar has recently signed a 50MW agreement with Chinese provisional government, Fenyi County, Jiangxi Province, although no timelines for the project have been disclosed.
Min Xiahou, global chief executive of SPI said: “This should provide SPI Solar with greater flexibility by which to pursue our current solar business strategy.”