Nov 18, 2014 - US solar power company SPI Solar (OTC:SOPW) said today its Japanese unit will purchase a 100% stake in the owner of a 22-MW solar scheme in Fukushima Prefecture.
Under the signed definitive agreement, SPI Solar Japan GK will acquire both the solar project and the land dedicated for it. The value of the deal remained undisclosed.
SPI Solar Japan will also be in charge of the development of the solar project. The solar farm will be located in the city of Sukagawa. Construction is expected to kick off in April 2015 and conclude a year later.
The buyer noted that it will have an option to extend the capacity of the solar farm by a further 3 MW.
Yesterday, SPI Solar also unveiled its plans to purchase solar power plants across China, totalling 168.5 MW, from Chinese electrical equipment maker TBEA Co Ltd (SHA:600089).