Solar Power, Inc. today announced that a wholly owned subsidiary of SPI has entered into a definitive agreement to acquire certain assets of Energiebau Solar Power GmbH ("Energiebau").
"We are pleased to welcome Energiebau into SPI's portfolio of world class brands," said Xiaofeng Peng, Chairman of SPI. "The Energiebau name has long been synonymous with quality in the European PV market, which has undergone enormous change in recent years. Despite this cyclicality, we believe the this market remains extremely lucrative for providers of distribution, next-generation PV technologies and other value-added services, and we are confident this transaction gives SPI the strongest local platform to capture this tremendous market opportunity. With the proper financial and management resources, the Energiebau brand will be revitalized and create value for our shareholders and partners." Chairman Peng continued, "With streamlined operations between Energiebau, Solar Juice and Yes!® Solar, SPI will have created one of the strongest global platforms to address the huge market need for PV wholesale and distribution services."