SPI Solar Shifting Business Strategy, Reducing Staff

Posted by SI Staff on August 16, 2012 No Comments
Categories : New & Noteworthy

SPI Solar, a vertically integrated photovoltaic solar developer, says it is adjusting its business strategy to move away from solar park construction services. The company plans to serve as an engineering, procurement and construction (EPC) manager over other outside construction services firms and to provide engineering and procurement services.

As a result of the reorganization, SPI Solar is reducing its staff by approximately 30 positions.

‘The reorganization of SPI will sharpen our focus as we manage a large pipeline of solar opportunities,’ says Steve Kircher, CEO and chairman of the board of directors at SPI Solar. ‘Serving in a project management and procurement role while sourcing other firms to handle the labor-intensive construction will give us maximum financial flexibility to pursue and execute multiple projects around the world while growing top-line net sales.’

The restructuring follows SPI Solar's announcement of a net loss totaling $2.4 million for the second quarter of this year.

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