SPI nabs 20-MW solar EPC deal in China

Oct 13, 2014 - US firm SPI Solar (OTCMKTS:SOPW) said Friday its Chinese arm will serve as the engineering, procurement and construction (EPC) contractor for a 20-MW solar scheme in China’s Inner Mongolia autonomous region.

The contact was signed between Xinyu Xinwei New Energy Co Ltd, which is a fully-owned unit of the US solar project developer, and Inner Mongolia Jingzhaolai Energy Co Ltd. Construction of the photovoltaic (PV) plant in the city of Wulaichabu is to kick off this month and is scheduled to conclude by the end of the year.

The deal represents SPI’s first solar EPC job in the region. SPI is majority-owned by China's LDK Solar Co Ltd (NYSE:LDK), which is in provisional liquidation in the US.

Earlier this year, China’s National Energy Administration (NEA) announced that the country aims to install 14 GW of photovoltaic (PV) capacity in 2014, including 8 GW of distributed generation (DG) systems and 6 GW of solar plants. Looking ahead, China set even more ambitious targets for its 2016-2020 plan on energy, according to a report by China Daily from last week. The Asian country aims to increase its solar capacity five-fold to 100 GW by the end of the decade.

Choose your newsletter by Renewables Now. Join for free!