Solar Power, Inc. (SPI) announced the closing of a Securities Purchase Agreement (SPA) with ZBB Energy Corporation, a developer of innovative energy management systems solutions serving the utility, commercial and industrial building markets. Along with the closing of the SPA, SPI entered into a Supply Agreement and a Governance Agreement with ZBB.
The execution of the SPA was previously announced on April 17, 2015.
"The application of cutting-edge energy storage technology to solar energy solutions will be a key driver of PV system expansion worldwide in the coming years," said Xiaofeng Peng, Chairman of SPI. "This strategic partnership with energy storage systems leader ZBB positions SPI to address a range of next generation PV system requirements from energy storage solutions to power efficiency management."