SPI, a vertically-integrated photovoltaic project developer, expects to purchase its common stock on the open market through negotiated transactions or otherwise in compliance with institutional regulations.
The timing of the purchases will be at the discretion of management and will depend on a number of factors including price, market conditions and regulatory requirements.
The company retains the right to limit, terminate or extend the share repurchase program at any time without prior notice.
Xiaofeng Peng, Chairman of SPI, has commented:
"The implementation of our share repurchase program reflects the confidence that our Board and management have in SPI's growth prospects and our commitment to enhance value for our shareholders while retaining adequate flexibility for future growth."
Solar Power Inc. focuses on the downstream photovoltaic (PV) market including the development, financing, installation, operation and sale of utility-scale and residential solar power projects in China, Japan, Europe and North America.
The company also operates an online energy e-commerce and investment platform, www.solarbao.com, which enables individual and institutional investors to purchase PV-based products.