SPI Announces Closing of Sale of UK Solar Project to Fund Managed by BlackRock

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SPI Announces Closing of Sale of UK Solar Project to Fund Managed by BlackRock

Solar Power Inc (SPI), a subsidiary of Solar Power, has closed a transaction to sell the 6.24 MW Gelliwern Farm solar project in UK to BlackRock Renewable Income UK Fund.

The solar project, located in south Wales, commenced construction in the first quarter of 2015 and was connected to the grid in March 2015. The Gelliwern Farm solar project is eligible to receive Renewables Obligation Certificates (ROCs) at 1.4 ROCs/MWh for 20 years under the UK's Renewables Obligation (RO) scheme.

Xiaofeng Peng, Chairman of SPI, commented:

"We are pleased to announce the closing of our second UK transaction with BlackRock in recent months. With this transaction, SPI has further solidified its reputation as a leading provider of bankable solar power solutions in the UK market and globally."

Rory O'Connor, Managing Director at BlackRock, added,

"We are very pleased to work again with SPI and close on this investment in the Gelliwern Farm solar project, adding to BlackRock's significant investment programme in the UK renewables sector."

In mid June Solar Power Inc (SPI) announced the sale of its entire stake in the 9.5 MW Grange Farm solar plant, located in the east of England, to the BlackRock Renewable Income UK Fund. This transaction was completed on June 30, 2015.

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