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SANTA CLARA, CA / ACCESSWIRE / January 25, 2021 / SPI Power Co., Ltd. (“SPI Power” or the “Firm”), SPI Power Co., Ltd., (NASDAQ: SPI) (the “Firm”), a worldwide renewable vitality firm and supplier of photo voltaic storage and electrical automobile (EV) options for enterprise, residential, authorities, logistics and utility prospects and traders, in the present day introduced that it, by its wholly owned subsidiary, SPI Photo voltaic, Inc. (“SPI Photo voltaic”), has began the development of the 712kW Oahu 101-1 photo voltaic carport venture. The venture is situated on the island of Oahu in Hawaii and can promote clear electrical energy to the Hawaiian Electrical Firm as soon as accomplished.
“The beginning of building of the Oahu 101-1 photo voltaic carport venture is a vital milestone for our Orange Energy subsidiary, which is concentrated on proudly owning and working photo voltaic initiatives within the US.,” mentioned Xiaofeng Peng, Chairman and CEO of SPI Power. “We’re excited to take this subsequent step in rising our photo voltaic asset base within the US by venture possession.”
Beneath the Hawaii Clear Power Initiative, the state is working to turn out to be the nation’s first-ever 100% renewable vitality portfolio. The Hawaii Clear Power Initiative is a partnership between the State of Hawaii and the U.S. Division of Power that launched in 2008. It brings collectively enterprise leaders, coverage makers, and anxious residents dedicated to main Hawaii to vitality independence.
With the US re-entering the Paris Local weather Settlement, new laws is anticipated within the coming months to additional the event of renewable vitality to assist preserve common international temperatures from rising not more than 2 levels Celsius, and ideally lower than 1.5 levels Celsius by 2100, in comparison with pre-industrial occasions.
About SPI Power
SPI Power Co., Ltd. (“SPI”) is a worldwide renewable vitality firm and supplier of photo voltaic storage and electrical automobile (EV) options for enterprise, residential, authorities, logistics and utility prospects and traders. The Firm supplies a full spectrum of EPC companies to 3rd social gathering venture builders, in addition to develops, owns and operates photo voltaic initiatives that promote electrical energy to the grid in a number of international locations, together with the U.S., the U.Ok., Greece, Japan and Italy. The Firm has its US headquarters in Santa Clara, California and maintains international operations in Asia, Europe, North America and Australia. SPI can also be focusing on strategic funding alternatives in inexperienced industries corresponding to battery storage and charging stations, leveraging the Firm’s experience and rising base of money circulate from photo voltaic initiatives and funding growth of initiatives in agriculture and different markets with vital development potential.
For extra info on SPI Power and its subsidiaries, the Firm recommends that stockholders, traders and another events learn the Firm’s public filings and press releases obtainable underneath the Investor Relations part at www.SPIgroups.com or obtainable at www.sec.gov.
This press launch comprises forward-looking statements, as that time period is outlined within the Non-public Litigation Reform Act of 1995, that contain vital dangers and uncertainties. Ahead-looking statements could be recognized by the usage of phrases corresponding to “could,” “may,” “will,” “intend,” “ought to,” “may,” “can,” “would,” “proceed,” “count on,” “imagine,” “anticipate,” “estimate,” “predict,” “outlook,” “potential,” “plan,” “search,” and related expressions and variations or the negatives of those phrases or different comparable terminology. Readers are cautioned to not place undue reliance on these forward-looking statements, which replicate the Firm’s present expectations and communicate solely as of the date of this launch. Precise outcomes could differ materially from the Firm’s present expectations relying upon plenty of components. These components embrace, amongst others, the coronavirus (COVID-19) and the results of the outbreak and actions taken in connection therewith, adversarial modifications typically financial and market circumstances, aggressive components together with however not restricted to pricing pressures and new product introductions, uncertainty of buyer acceptance of latest product choices and market modifications, dangers related to managing the expansion of the enterprise, and people different dangers and uncertainties which might be described within the “Threat Elements” part of the Firm’s annual report filed on Kind 20-F filed with the Securities and Alternate Fee. Besides as required by legislation, the Firm doesn’t undertake any accountability to revise or replace any forward-looking statements.
SPI Power Co., Ltd.
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