SPI Energy, a provider of PV solutions, announced that the Bank of Jiangsu has approved an 8-year project finance for a 4.8 MW photovoltaic solar energy DG plant in Nantong City, Jiangsu Province (the "Project").
The Project, which is sponsored by the Company, is located in Nantong City, Jiangsu Province with a total installed capacity of 4.8 MW and will supply an average of 4 million kWh of electricity per year to the national grid and consumers, helping to diversify Nantong's energy matrix and eliminating approximately 3,633 tons of CO2 emissions per year.
Mr. Xiaofeng Peng, Chairman and CEO of SPI Energy commented, "We are very pleased to have received the project finance from the Bank of Jiangsu. Today's announcement speaks volumes about the strong support of the local banking industry and government agencies for clean tech companies, especially for distributed generation (DG) solar projects. As we continue to expand our operations and build project pipeline in the Jiangsu region and globally, our focus remains on projects with attractive ROI as well as strong support from local banking industry and government agencies."