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SPI Energy Announces Closing of Investment in Electric Vehicle Rental Business
SOURCE SPI Energy Co., Ltd.
SHANGHAI, Jan. 11, 2016 /PRNewswire/ -- SPI Energy Co., Ltd. ("SPI Energy" or the "Company") (OTCBB: SRGYY), a global provider of photovoltaic (PV) solutions for business, residential, government and utility customers and investors, today announced the closing of its investment of RMB30 million for a 60% stake in Beijing Yiwei New Energy Technology Development Company ("Yiwei"), an Internet-based electric vehicle rental service provider located in China. The investment was previously announced on September 1, 2015.
The investment is expected to allow SPI Energy to provide solar energy to users of electrical vehicles and is an important component in SPI Energy's overall strategy to create a closed-loop solar energy ecosystem from power generation and power storage to power efficiency management.
SPI Energy believes that its rapidly increasing capability to fund projects through its Solarbao.com platform will help Yiwei to expand its existing fleet of electric vehicles, which will create further opportunities for SPI Energy's solar energy business.
