SPI Energy Co Ltd, specialized in vertically-integrated photovoltaic (PV), has got a US$21.7 million funding from China Kangfu International Leasing Co Ltd for a 20MW solar project in China.
Gonghe Xinte Photovoltaic Power Generation Co Ltd. has been the company's unit whereby the investment has been obtained. This company has a 10-year leasing agreement with Kangfu International Leasing Co Ltd.
The location of the The Gonghe Xinte photovoltaic plant will be in Qinghay province. Additionally, the partners will strategically collaborate together in order to develop other renewable energy projects in China.
According to sources, SPI chairman and CEO, Xiaofeng Peng, noted:
“SPI has an outstanding global portfolio of PV power projects and we believe that China Kangfu's strong financial resources and industry experience makes it an ideal local partner to support our growth strategy and enhance our leading position in the solar industry,” .