SPI Energy, a subsidiary of SPI which focusing on downstream PV market and investment, has close 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. Since the launch in early 2015, Solarbao.com has conducted more than 100 investment projects for green energy.