Aug 27, 2014 - US solar power developer SPI Solar (OTC:SOPW) said yesterday it has obtained preliminary approval for a 10-MW distributed photovoltaic (PV) project in China’s Shandong province.
Xinyu Xinwei New Energy Co Ltd, part of SPI Solar, got the go-ahead from the government of LiaoCheng city for the scheme in the Jia Ming Development Zone. If given final approval, construction will kick off in the October-December period and conclude in 2015.
SPI Solar is majority-owned by China's LDK Solar Co Ltd (NYSE:LDK), which is in provisional liquidation in the US. The company noted that the 10-MW PV scheme marks its first distributed generation (DG) project in China and also its first job in the province.
The solar company cited projections by US market researcher IHS Inc (NYSE:IHS) according to which the support of China’s National Energy Administration (NEA) and the high market demand will drive the rapid expansion of the local DG solar market. IHS expects about 5 GW of DG installations to be completed in 2014, SPI said.