SPI Energy Announces Submission of Projects to Oregon Community Solar Program
11 February 2020 - 8:30PM
SPI Energy Co., Ltd. ("SPI Energy" or the "Company") (NASDAQ: SPI),
a global provider of photovoltaic (“PV”) solutions for business,
residential, government and utility customers and investors, today
announced the submission of the previously closed solar projects
(18MW) in the Oregon Portfolio to the newly formed Oregon Community
Solar Program. Following the acceptance and approval from the
Public Utility Commission of Oregon, SPI, through its wholly-owned
subsidiary Solar Town, will begin offering Community Solar
Subscriptions to Businesses, Non-Profits & Homeowners in the
Portland General Electric (PGE) utility territory. Electricity
users will be able to save up to 10% on their electricity bills
from the off-site solar gardens.
Customers will be able to subscribe to a Community Solar Project
and get a credit on their utility bill for their portion of the
energy generated by the project. It is an easy and low-risk way for
customers to get the advantages of solar energy – even if they
don’t have a roof with applicable sun or rent in an urban area or
live in a rural community.
The program was established by the Oregon Legislature, led by
the Oregon Public Utility Commission rules through UM 1930. The
goal of the Oregon Community Solar Program is to expand the state’s
renewable energy portfolio and make solar energy available to
customers across the state who previously did not have access to
this renewable resource.
Mr. Xiaofeng Peng, Chief Executive Officer of SPI Energy,
commented, "We are happy with the progress of the Oregon Community
Solar Program and look forward to providing PGE customers with more
cost effective options for their electricity with our Community
Solar Gardens.” Mr. Peng added, “We are taking prudent steps to
expand our solar platform in the United States as we continue to
rebalance our business-mix and refine our strategic investment in
projects or businesses that have high growth potential.”
About SPI Energy Co., Ltd.
SPI Energy Co., Ltd. (the “Company”) is a global provider of
photovoltaic (“PV”) solutions for business, residential, government
and utility customers and investors. The Company develops solar PV
projects that are either sold to third party operators or owned and
operated by the Company for selling of electricity to the grid in
multiple countries in Asia, North America and Europe. The Company’s
subsidiary in Australia primarily sells solar PV components to
retail customers and solar project developers. The Company has its
operating headquarters in Hong Kong and its U.S. office in Santa
Clara, California. The Company maintains global operations in Asia,
Europe, North America and Australia.
For inquiries, please contact:
Bruce Haase — Account SpecialistRedChip Companies, Inc.(407)
712-8965bruce@redchip.com
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