PV project developer Solar Power, Inc (SPI) said it would certain assets of German-based PV distributor, Energiebau Solar Power. Financial details were not disclosed.
SPI has previously acquired Solar Juice in Australia and Yes! Solar in the US.
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Xiaofeng Peng, Chairman of SPI said, “The Energiebau name has long been synonymous with quality in the European PV market, which has undergone enormous change in recent years. Despite this cyclicality, we believe this market remains extremely lucrative for providers of distribution, next-generation PV technologies and other value-added services, and we are confident this transaction gives SPI the strongest local platform to capture this tremendous market opportunity.”
According to SPI, once Energiebau has “proper financial and management resources,” the brand would add to its distribution platform, providing “one of the strongest global platforms to address the huge market need for PV wholesale and distribution services.”
Scandinavian-German module manufacturer, Innotech Solar, took ownership of insolvent Energiebau Solar at the start of 2015, only to also sucumb to the same fate.
