SPI Solar Power Engineering (Suzhou) Co., Ltd., a wholly-owned subsidiary of Solar Power, Inc., has signed an agreement with Jingzhaolai PV Power Co., Ltd. of Inner Mongolia to provide engineering, procurement and development (EPC) services for its 20 MW utility-scale PV project located in Liangcheng County, Ulanqab, Inner Mongolia.
The latest announcement comes as China's National Energy Administration (NEA) recently upwardly revised China's PV installation target for 2015 by approximately 20% to 17.8 GW of new capacity from its previous 2015 target of 15 GW. Construction of the project is expected to begin in April 2015 with grid connection anticipated in June 2015.
"This agreement strengthens SPI's market position in Inner Mongolia, a fast growing PV market with substantial solar development potential," said Xiaofeng Peng, Chairman of SPI. "The Chinese government continues to demonstrate its unwavering commitment to solar energy, recently increasing China's PV installation target for 2015 from 15 GW to 17.8 GW of new capacity. As a leader in China's downstream solar market, we are confident that SPI will benefit significantly from these positive macro trends."