SPI Closes $20 Million Hardware Sale

Posted by SI Staff on June 02, 2008 No Comments
Categories : Projects & Contracts

Solar Power Inc. (SPI), a Rosewood, Calif.-based vertically integrated solar energy solution provider, has entered into an agreement to provide a large Korean distributor/installer with 5 MW of the company's SP200 solar modules.

The modules will be used as part of a 10 MW solar park currently under development northeast of Seoul, South Korea, and will be delivered in a series of shipments beginning this month and concluding in August. SPI adds that it has received a letter of credit underlying the financial terms of this transaction and has commenced processing the first scheduled shipment.

‘As we continue to grow our business, working with a select group of companies, like our Korean partner, will allow us to further ramp factory output,’ says Steve Kircher, CEO of SPI. ‘Working directly with distribution and integration companies across Asia and Europe is a complement to our U.S. business plan and a key part of our long-term business growth strategy.’

SOURCE: Solar Power Inc.

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