California-based developer SPI Solar has announced an agreement under which its wholly owned subsidiary, Xinyu Xinwei New Energy Co., will build a 50 MW solar project in China.
Xinyu signed the deal with the government of Fenyi County, China. Under the terms of the agreement, SPI says the government will provide certain guarantees and support to Xinwei for the project's construction and development phases, in addition to offering certain incentives and other services for the project's later phases leading up to grid connection.
Moreover, SPI says the government has signaled its intent to participate actively in coordinating all relevant local and provincial departments to facilitate and expedite construction of the project.
"China is one of SPI's key global focus markets in which to develop utility-scale PV projects, and while still in the early stages of growth, we believe China's installed PV market will mature into one of the largest globally within the foreseeable future," explains Xiaofeng Peng, chairman of SPI." We are proud that SPI is taking a leading role in helping China's economy transition toward a greener future."