China-based Solar Power Inc. (SPI) has entered into a share purchase agreement with LDK Solar Europe Holding SA to acquire 4.5 MW of photovoltaic projects in Italy and with LDK Solar USA Inc. to acquire 7.8 MW of PV projects in California.
Under the terms of the share purchase agreement, SPI will acquire all of the outstanding capital stock of the holding companies of the solar PV projects. This transaction is subject to several closing conditions, including completion of due diligence.
‘We are pleased to announce this agreement which, upon closing, will add significant in-operation assets in Europe and the U.S. to SPI's globally diversified PV portfolio,’ says Xiaofeng Peng, chairman of SPI. ‘The acquisition of high-quality assets in key markets will continue to be an important part of our strategy to strengthen SPI's global presence.’