Solar Power Inc (OTCMKTS:SOPW) a vertically-integrated PV project developer reported that a wholly owned subsidiary firm has finalized a definitive deal to buy certain stake in Energiebau Solar Power GmbH. It was termed as the “Top PV Wholesale Supplier” for three consecutive years 2012, 2013 and 2014 by EuPD Research.
The significance
Established in 1983, Energiebau is a leading supplier firm of solar systems in Europe. It has a robust wholesale business and resourceful PV distribution network. It offers an interface between solar trade and the global solar manufacturers. The business model of Energiebau is service-oriented and is famous for excellence in core PV wholesale operations including customer service, distribution, purchasing and quality management.
Moreover, it possesses a history of strong alliances with energy utilities and commercial and large-scale PV project activities in Africa and Europe. Combined with Solar Power other global platforms, Yes!® Solar in China and the US and Solar Juice in Australia, the company has a worldwide operations in PV wholesale distribution.
The expert comments
Xiaofeng Peng, the Chairman of Solar Power, said that they are delighted to welcome Energiebau into company’s portfolio of exclusive world-class brands. The Energiebau brand has been synonymous with high-quality in the European PV industry, which has faced considerable changes in recent years. Despite the recorded cyclicality, the management believes this market remains quite lucrative for provider firms of distribution, next-gen PV know-how and other value-added offerings.
Peng further added that they are confident the new deal provides Solar Power the strongest local base to capture the remarkable market opportunity. With the appropriate management and financial resources, the brand will be revived which in turn will create value for company’s shareholders and partners. With planned operations between Energiebau, Yes!® Solar and Solar Juice the company will have one of the robust global system to address the huge market demand for PV wholesale as well as distribution services.
In last trading session, the stock price of Solar Power Inc (OTCMKTS:SOPW) declined more than 2% to close the trading session at $1.67.
