SPI Enters into Strategic Cooperation with Kong Sun Holdings Company

SHANGHAI, June 8, 2015 /PRNewswire/ -- Solar Power, Inc. ("SPI") (OTCBB:SOPW), a vertically-integrated photovoltaic ("PV") project developer, today announced that its wholly-owned subsidiary Jiangsu Solarbao Leasing Co. Ltd. ("Solarbao") has entered into a strategic cooperation agreement with Kong Sun Holdings Company ("Kong Sun") (SEHK:295), a Chinese company which invests in and operates PV power stations,  pursuant to which Solarbao has agreed to provide finance lease services to Kong Sun's PV power system projects in China.

Under the strategic cooperation agreement, Solarbao will provide Kong Sun with an aggregate finance lease credit line in the amount of RMB 1 billion for its PV power projects in China.  The exact terms of the leases, including the principal amounts, interest rates and other terms, will be set out in the definitive agreements to be entered into between Kong Sun and Solarbao in respect of the leases for the relevant PV power projects. The strategic cooperation agreement has an initial term of two years and may be extended for one year upon mutual agreement between the parties.

"We are delighted to enter into this cooperation with Kong Sun, which underscores Solarbao's collaborative ability to leverage Internet finance to support the development of PV power projects in China," said Xiaofeng Peng, Chairman of SPI. "Our innovative Solarbao.com online e-commerce and investment platform continues to gain strong market acceptance from both Chinese corporate and individual investors, and we look forward to exploring additional strategic partnerships in the months ahead."

About Solar Power, Inc. (OTCBB: SOPW)

Solar Power, Inc. ("SPI" or the "Company") is a global leader in enabling photovoltaic ("PV") solutions for business, residential, government and utility customers and investors. SPI 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 also 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. The Company has its operating headquarters in Shanghai and global operations in Asia, Europe, North America and Australia.

For additional information visit: www.spisolar.com, www.solarbao.com, www.solarbao.com.hk  or www.solartao.com.

Safe Harbor Statement

This release contains certain "forward-looking statements" relating to the business of SPI, its subsidiaries and the solar industry, which can be identified by the use of forward-looking terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "expects" or similar expressions. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Among other things, the quotations from management in this press release contain forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties, including uncertainties regarding whether the transactions contemplated will be successfully completed. All forward-looking statements are expressly qualified in their entirety by this cautionary statement and the risks and other factors detailed in the company's reports filed with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities law.

Contact:
Amy Liu, Solar Power, Inc. (800) 548-8767

SOURCE Solar Power, Inc.

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