SPI Energy Announces Closing of Sale of UK Solar Project to Fund Managed by BlackRock
SPI Energy Co., Ltd., a global provider of photovoltaic (PV) solutions for business, residential, government and utility customers and investors,recently announced that its wholly-owned subsidiary, SPI China (HK) Limited, has closed a transaction to sell the entire issued share capital of Solar Park Developments 2 Ltd (“Hall Farm”), which holds a solar power project in the United Kingdom with a rated capacity of approximately 15 megawatts (“MW”), to a fund managed by BlackRock, Inc. (“BlackRock”), a global leader in investment management, risk management and advisory services.
Located in Tasburgh, Norwich, the Hall Farm solar project commenced construction in the first quarter of 2015 and was connected to the grid in August 2015. The project is eligible to receive Renewables Obligation Certificates (“ROCs”) at 1.3 ROCs/MWh for 20 years under the UK’s Renewables Obligation (“RO”) scheme.
“We are delighted to partner with BlackRock again on our third UK transaction during the past year,” said Xiaofeng Peng, Chairman of SPI Energy. “BlackRock is one of the leading global infrastructure investors and this deal is a testament to SPI Energy’s proven track record of delivering high quality solar power projects in the UK and worldwide.”