Boulder, CO, May 11, 2016 – AES Distributed Energy, Inc. (AES DE), a developer, owner, and operator of solar photovoltaic (PV) projects and a subsidiary of The AES Corporation, today announced a strategic partnership with SPI Energy Co., Ltd. (SPI Energy) (Nasdaq: SPI), a global provider of solar PV solutions. Through this partnership, the two companies plan to co-develop 6.78 megawatts (MW) of solar PV projects across nine sites.
The projects will be constructed on the islands of Oahu and Maui as part of contracts awarded by Maui Electric Company (MECO) and Hawaiian Electric Company (HECO) under 20-year Feedin Tariff (FIT) agreements. AES DE will serve as the long-term owner and operator of the solar facilities. The nine solar facilities are expected to generate enough clean and reliable electricity each year to offset the energy usage of approximately 1,700 homes in Hawaii.
AES DE Quote:
“We are very excited to partner with SPI Energy on these projects and contribute to Hawaii reaching its ambitious long-term goal of producing 100% of its power from renewable energy,” said Woody Rubin, President of AES Distributed Energy.
“We are very excited to partner with SPI Energy on these projects and contribute to Hawaii’s goal for increased renewable energy,” said Woody Rubin, President of AES Distributed Energy.
“By leveraging the respective strengths of SPI Energy and AES DE, we can accelerate the construction schedule and time to market of these projects. This deal also highlights the high quality of our global PV asset portfolio,” said Xiaofeng Peng, Chairman and CEO of SPI Energy.
About AES DE
AES Distributed Energy brings reliable and affordable solar power to schools, municipalities, utilities, residential marketers and private-sector commercial entities. We develop, own and operate distributed generation solar PV projects. Our partnerships with EPC contractors, equipment manufacturers and project financiers enable us to build and structure turnkey, distributed solar PV solutions that require no upfront capital outlay. Formed by the acquisition of Main Street Power Company in February 2015, and through our ongoing business relationship with MS Solar Solutions Corp, a wholly-owned subsidiary of Morgan Stanley, AES Distributed Energy has over 60 MW of distributed generation solar PV projects in operation across North America with an additional 100 MW in development in the US, Caribbean and Latin America. To learn more, please visit www.aesdistributedenergy.com.
About SPI Energy Co., Ltd.
SPI Energy Co., Ltd. is a global provider of photovoltaic (PV) solutions for business, residential, government and utility customers and investors. SPI Energy focuses on the downstream PV market including the development, financing, installation, operation and sale of utility-scale and residential solar power projects in China, Japan, Europe and North America. The Company operates an innovative online energy e-commerce and investment platform, www.solarbao.com, which enables individual and institutional investors to purchase innovative PV-based investment and other products; as well as www.solartao.com, a B2B e-commerce platform offering a range of PV products for both upstream and downstream suppliers and customers. The Company has its operating headquarters in Shanghai and maintains global operations in Asia, Europe, North America and Australia.
For additional information visit: www.spisolar.com, www.solarbao.com or www.solartao.com.
Safe Harbor Statement
This release contains certain “forward-looking statements.” These statements are forwardlooking in nature and subject to risks and uncertainties that may cause actual results to differ materially. All forward-looking statements included in this release are based upon information available to the Company as of the date of this release, which may change, and the Company undertakes no obligation to update or revise any forward-looking statements, except as may be required under applicable securities law.