Solar Power, Inc. today announced that SPI and its wholly-owned subsidiary, SPI Solar Japan G.K. have entered into a strategic partnership agreement with K.K. Uniroot, to jointly develop a pipeline of more than 500MW of solar PV power plant projects in Japan.
Under the terms of the agreement, SPI will assume primary responsibility for certain functions including project funding, construction and equipment procurement, with Uniroot bearing primary responsibility for other matters including land purchase and lease, securing necessary permits, and obtaining power purchase agreements with local utilities, among others. SPI and Uniroot will establish a joint venture in Japan, in which SPI will hold no less than 51% equity interest, for the development of the Solar PV power plant projects.
"We are delighted to announce this partnership agreement with Uniroot to jointly develop solar PV power plants in Japan, one of SPI's core markets globally," said Xiaofeng Peng, Chairman of SPI. "Combining SPI's leading expertise in developing world-class PV power plants with Uniroot's deep local connections and experience in the Japanese solar market, we are confident that this a win-win partnership which will create significant value for both parties in the years ahead."
