Solar Power Inc (OTCMKTS:SOPW) has acquired two new partnerships in the last few days. The company recently agreed to buy 76.8% stake in Convertergy Energy Technology and a supply partnership agreement with ZBB Energy. The supply partnership is valued at $80-$120 million, with an initial equity investment of $33.4 million. The partnership is targeted at SPI’s large global solar project.

The actual value of the partnership cannot be confirmed, since it will largely vary with type of storage applications employed during the process. The equity investment has already been paid for by ZBB, through its convertible and newly issue stock. However, a clause in the agreement prevents the convertible stock to be used, without reaching certain milestones. The partnership is already being viewed as the combination of solar PV systems and energy storage and management systems for commercial and residential purposes.

Surprisingly, the second purchase also concerns a provider of energy monitoring services. The acquisition of a controlling stake in the company is aimed at improving SPI’s PV applications. The company has already taken a $1.5 million loan and decided to pay $13.8 million in stock to make the transaction possible.

ZBB has hoped that the partnership with SPI will help his company tap into a larger market. The CEO of ZBB, Paul Koeppe, stated that SPI has presence in countries where his company does not have a presence in. The new partnership allows them to reach towards those countries and market their energy management and storage systems. Even though the deal targets commercial and residential customers, ZBB has recently increased its portfolio towards industrial solutions as well.

The executives at SPI also confirmed that the partnership will allow the two companies to take control of solar plus storage market. It would seem that SPI is not settling for just the PV market, it wants control over the entire solar energy systems market. The company already has the complete set of products from its two acquisitions; it just needs to cash it.

Solar Power Inc (OTCMKTS:SOPW) closed at $1.97, after losing 1.5% on May 13. The company has 601.64 million shares being traded in the company, with a 52-week range of $0.18-$2.95.