Jul 22, 2014 - US solar projects developer SPI Solar (OTCMKTS:SOPW) said today its unit Xinyu Xinwei New Energy Co Ltd has sold a 50-MW photovoltaic (PV) project in China’s Jiangxi province.
Xinyu Zhongzhi Guoxiang New Energy Electric Power Investment Development Co Ltd is the new owner of the solar scheme. Under the agreement Xinyu Xinwei will continue to develop and construct the plant, touted as one of the biggest utility-scale projects in the province. Financial details on the deal were not given.
Furthermore, the buyer has awarded to SPI Solar a contract for the engineering, procurement and construction (EPC) of another 21-MW PV scheme in the same province. The construction of the plant, also owned by Xinyu Zhongzhi, is expected to kick off in the third quarter of 2014 and conclude by the end of the year.
California-based SPI Solar is a majority-owned unit of Chinese firm LDK Solar Co Ltd (NYSE:LDK).