SPI Solar expands PV project footprint to Greece

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email

PV project developer, SPI Solar has completed the acquisition of Sinsin Renewable Investment Limited (SRIL) in cash and shares totalling US$91.7 million on plans to develop 360MW of projects, primarily in Greece. 

SPI Solar, controlled by former founder of Cayman Island registered LDK Solar, Xiaofeng Peng has made some rapid deals to re-establish SPI Solar’s PV project business, almost crippled due to the chronic financial position of its parent company. 

The project developer has recently received cash infusions of around US$50 million from unnamed investors and has announced projects in China, Hawaii, Japan and now Greece. 

SPI Solar is also trying to re-establish its ‘YES!’ solar solution for the residential and small business segments in North America, which had primarily been modules made by LDK Solar in China. It is not clear, due to the US anti-dumping ruling whether the YES! brand will be deployed in other regions and countries instead. 

LDK Solar and SPI Solar previously had financial agreements with China Development Bank to support SPI’s projects, which were locked into purchasing LDK Solar’s modules. It is not clear whether this arrangement remains in place at present and is actually been drawn down. 

However, the completed deal to buy Sinsin Renewable Investment provides SPI with 26.57MW to its global portfolio and potentially a further 360MW of projects from Sinsin’s pipeline, according to SPI. 

SPI Solar only had sales of US$9.9 million in the first six months of 2014. 

20 October 2021
Utility-scale solar is evolving, shaped by higher power modules and demand for increasingly lower levelised cost of electricity (LCOE). Those trends are also changing project requirements elsewhere, with inverters capable of delivering high power density and power capacity in strong demand. In this webinar, FIMER will detail how its innovative high-power, multi-MPPT string inverter and modular conversion solution can both meet those demands and transform the utility-scale solar sector for the better.
20 October 2021
The race is on but we need to sprint… With global climate talks fast approaching and time running out to prevent the most disastrous impacts of climate change, now is the time to act. The Summit will explore the opportunities that emerge from taking action on climate change and provide a clear pathway forward for governments, citizens and companies. Taking place just 10 days before the G20 meeting in Rome, on 30-31 of October, and in the lead up to the critical COP26 meeting in Glasgow from 31 October–12 November, this event will be instrumental in influencing ambitious global action.
10 November 2021
The solar tracker market continues to mature at breakneck speed, with designs and component selections becoming ever-more complex in the pursuit of better project economics. But a more simplistic design could deliver a triple benefit of lower Capex, EPC and Opex costs. This webinar will set out the ideal single axis tracker design for utility-scale solar farms. The design leapfrogs from decades of experience, with a comprehensive understanding and attention to the three cost structures of Capex, EPC and Opx. Sun and Steel Solar has prototyped a single axis tracker designed to deliver up to US$0.03/W in real savings compared to existing single axis trackers on the market. That’s US$30 million for every gigawatt deployed.
15 November 2021
The 10th edition of the famous Metallization and Interconnection Workshop, MIW2021, will take place in the Thor Central venue in Genk, Belgium, on Monday, November 15, and Tuesday, November 16, 2021 as a face-to-face meeting. We are longing for direct exchange of knowledge and ideas after a long time. Hopefully you can be part of it! But of course, the organizors will keep an eye on the evolution of the Covid pandemic. It will be assess carefully, whether the workshop can be held without major risks or excessive restrictions. We are looking forward to exciting talks, discussions and meetings and to welcoming you in Genk!
23 November 2021
The solar, storage and EV industries in the UK are going from strength to strength. There is no better place for the community to meet, share ideas and do business than Solar & Storage Live from 23-25 November at the NEC.There’s something for everyone; more than 150 exhibitors, a high-level conference, a start up and innovation zone, a poster zone, strategic partners to network with and much more. 
1 December 2021
Understand fully the technical and logistical supply chains that determine the production and performance of solar modules, including all related factors impacting quality, reliability & bankability. This event will be run online with streamed content, access to session recordings and chat/messaging tools for delegates to connect.

Read Next

October 20, 2021
Infrastructure fund manager DIF Capital Partners is acquiring a majority interest in ib vogt, in a deal that is expected to fast track the solar developer’s transition towards an independent power producer (IPP) model.
October 20, 2021
South Korean clean energy company SK E&S has invested US$300-400 million in LS Power’s newly launched REV Renewables that will accelerate the expansion of its portfolio of renewable power and energy storage projects.
October 19, 2021
Funds managed by private equity firm Antin Infrastructure Partners have secured a deal to acquire a majority stake in US solar and storage developer Origis Energy.
October 19, 2021
Lightsource bp has announced its entry into Poland’s solar market through a co-development deal which will see the developer proceed with a 757MWp pipeline in the country.
October 19, 2021
Shortlisted bids in Saudi Arabia’s latest solar tender have jumped significantly on the lowest price recorded in the country’s previous renewables programme, reflecting the hikes in PV equipment costs in recent months.
October 19, 2021
The White House has said renewables are still key to its budget reconciliation bill despite rumours of the investment tax credit (ITC) being modified as opposition to the bill by senators Manchin and Sinema continue

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
November 10, 2021
8am (PST) | 5pm (CET)
Solar Media Events
December 1, 2021