SPI Energy Receives 8-Year Project Finance for 4.8 MW DG PV Projects in Nantong City, Jiangsu Province from the Bank of Jiangsu

SHANGHAI, Oct. 20, 2016 /PRNewswire/ -- SPI Energy Co., Ltd. ("SPI Energy" or the "Company") (Nasdaq: SPI), a global provider of photovoltaic (PV) solutions for business, residential, government and utility customers and investors, today announced that the Bank of Jiangsu has approved an 8-year project finance for a 4.8 MW photovoltaic solar energy DG plant in Nantong City, Jiangsu Province (the "Project").

The Project, which is sponsored by the Company, is located in Nantong City, Jiangsu Province with a total installed capacity of 4.8 MW and will supply an average of 4 million kWh of electricity per year to the national grid and consumers, helping to diversify Nantong's energy matrix and eliminating approximately 3,633 tons of CO₂ emissions per year.

Mr. Xiaofeng Peng, Chairman and CEO of SPI Energy commented, "We are very pleased to have received the project finance from the Bank of Jiangsu. Today's announcement speaks volumes about the strong support of the local banking industry and government agencies for clean tech companies, especially for distributed generation (DG) solar projects. As we continue to expand our operations and build project pipeline in the Jiangsu region and globally, our focus remains on projects with attractive ROI as well as strong support from local banking industry and government agencies."

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 forward-looking 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.

For investors and media inquiries please contact:

Investor Relations Department
SPI Energy Co., Ltd.
[email protected] 
+86 21 8012 9135

Tony Tian, CFA
Weitian Group LLC
[email protected] 
+1 732 910 9692

SOURCE Solar Power, Inc.