Solar Power Inc (OTCMKTS:SOPW) a leading vertically-integrated photovoltaic project developer firm announced that its wholly owned subsidiary unit has finalized a definitive agreement to purchase certain stake in ‘Energiebau Solar Power GmbH’. The company in news was stated as the “Top most PV Wholesale Supplier” for three successive years 2012, 2014 and 2013 by EuPD Research.
Energiebau which was established in 1983 is a top supplier entity of solar systems in Europe. It possesses a robust wholesale operations and strong PV distribution network. The firm provides a common platform for solar trade and the world-wide solar manufacturers. The business model is primarily service-oriented. The firm is known for excellence in PV wholesale operations including distribution, customer service and quality management.
Energiebau also has a history of strong associations with energy utilities firms and commercial and large-scale photovoltaic project activities in Africa and Europe. Together with Solar Power other platforms, Yes!® Solar based in China and the US and Solar Juice active in Australia, the company has worldwide network of PV wholesale distribution.
The expert speaks
Xiaofeng Peng, the Chairman said that Solar Power management is delighted to welcome Energiebau in its portfolio of world-class brands. The brand has been related with high-quality in the European PV market, which has witnessed noteworthy changes in last some years. Despite the noted cyclicality, the team believes this market is quite lucrative for firms offering next-gen PV know-how, distribution and other value-added offerings.
The CEO further said that they are confident that the new agreement offers the company the strongest local base to get the most of market. In last trading session, the stock price of Solar Power Inc (OTCMKTS:SOPW) declined more than 6% to close the trading session at $1.55. The sharp decline came at a share volume of 371,502 compared to average share volume of 262,001.