Spi Energy Co Ltd (ADR) (NASDAQ:SPI) has made an exciting announcement today. It revealed that its wholly-owned subsidiary, SPI China (HK) Limited has made entry into an agreement that will enable it move ahead with the plan to issue share capital of Todderstaffe Solar Limited (“Todderstaffe Farm”).
Sources indicate that the company had a number of reasons to choose Poulton as the most ideal location to set up the Todderstaffe Farm solar project.2017 will go down records as the year that the top end company laid foundation for the project. It is also the same time when it connected it to the grid.
Some top officials working with the company during an interview said that the project was as a matter of fact eligible to receive Renewables Obligation Certificates (ROCs) at 1.2 ROCs/MWh. Over the years, this has been offered under the UK’s Renewables Obligation (RO) scheme and it goes without saying that indeed the company is making steps towards the right direction.
The Chairman and Chief Executive Officer of SPI Energy, Xiaofeng Peng while addressing a press conference recently said, “We are delighted to work with valuable partner Capital Stage, Germany’s largest independent solar park operator and a leading clean energy investor on the sale of Todderstaffe Farm solar project. The success of this transaction is another testament to the quality of our solar farm projects and the growing track record of delivering bankable solar power solutions in the UK market.”
Another top official by the name Holger Götze also went ahead to air out his opinion. He said that as a company they were very excited to get the chance to work with SPI Energy on the Todderstaffe Farm solar power project. According to him, it helped them a huge deal since for the very first time they were going to acquire an attractive and high quality solar park.
That would indeed be a major addition to its already existing clean energy investments in the UK, something the company has always dreamt of over the years. The best part about it all is that the new acquisition they will be able to boost their generating capacity in the UK which is for sure a significant improvement.