Solar Power, Inc. (SPI, Shanghai, China) on June 1st, 2015 announced that a wholly owned subsidiary of SPI has entered into a definitive agreement to acquire certain assets of Energiebau Solar Power GmbH (Cologne, Germany).
Established in 1983, Energiebau is a leading supplier of solar photovoltaic (PV) systems in Europe. With its strong wholesale business and efficient PV distribution platform, Energiebau provides an interface between global solar manufacturers and the solar trade, SPI emphasizes.
As Innotech Solar AS (Narvik, Norway) had filed for insolvency on March 24th, 2015 in Narvik, Norway, its German subsidiary Energiebau also filed for insolvency at the local court of Cologne on March 25th, 2015.
Energiebau's business model is service oriented and is known for excellence in core PV wholesale functions including distribution, purchasing, quality management and customer service, reads the SPI press release.
In addition, it has a history of strong relationships with energy utilities as well as large-scale and commercial PV project activities in Europe and Africa.
Combined with SPI's other global platforms, Solar Juice in Australia, and “Yes!” Solar in the US and China, SPI has established a worldwide presence in PV wholesale distribution.
“The Energiebau name has long been synonymous with quality in the European PV market, which has undergone enormous change in recent years. Despite this cyclicality, we believe that this market remains extremely lucrative for providers of distribution, next-generation PV technologies and other value-added services,” said Xiaofeng Peng, Chairman of SPI.
“With proper financial and management resources, the Energiebau brand will be revitalized and create value for our shareholders and partners." Chairman Peng continued.
2015-06-02| Courtesy: Solar Power, Inc. | solarserver.com © Heindl Server GmbH
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