SPI to acquire German solar products wholesaler Energiebau

June 1 – China-based Solar Power Inc (OTCBB:SOPW), or SPI, said on Monday it has inked a deal to buy certain assets of troubled German solar products wholesaler Energiebau Solarstromsysteme GmbH.

Set up in 1983, Cologne-based Energiebau operates as a European solar systems supplier that has relationships with energy utilities as well as large-scale and commercial photovoltaic (PV) project activities in Europe and Africa.

Scandinavian-German solar module maker Innotech Solar AS (ITS) took over Energiebau in January 2015 a few months after the wholesaler filed for insolvency. However, Innotech did so itself a couple of months later, which has led to the current deal with SPI.

“With streamlined operations between Energiebau, Solar Juice and Yes! Solar, SPI will have created one of the strongest global platforms to address the huge market need for PV wholesale and distribution services,” said SPI chairman Xiaofeng Peng said in a press release.

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