SPI Energy Announces Closing on the Belvedere Solar Project

SANTA CLARA, Calif., Sept. 10, 2019 (GLOBE NEWSWIRE) -- SPI Energy Co., Ltd. ("SPI Energy" or the "Company") SPI, a global provider of photovoltaic ("PV") solutions for business, residential, government and utility customers and investors, today announced the closing on the Belvedere project from the previously announced framework agreement to acquire up to eight solar projects in the state of Oregon (the "Oregon Portfolio"). The acquired Belvedere project is a ground-mounted PV project, located in Marion County, Oregon and it is expected to produce approximately 3.56MW of clean energy for the local community. Upon project completion, the Company expects to sell the power to Portland General Electric.

Mr. Xiaofeng Peng, Chief Executive Officer of SPI Energy, commented, "This is the third PV project within the Oregon Portfolio that we have acquired. We are committed to growing our solar projects pipeline in the United States; and are accelerating our efforts to explore similar acquisition opportunities."

About SPI Energy Co., Ltd.

SPI Energy Co., Ltd. (the "Company") is a global provider of photovoltaic ("PV") solutions for business, residential, government and utility customers and investors. The Company develops solar PV projects that are either sold to third party operators or owned and operated by the Company for selling of electricity to the grid in multiple countries in Asia, North America and Europe. The Company's subsidiary in Australia primarily sells solar PV components to retail customers and solar project developers. The Company has its operating headquarter in Santa Clara, California and maintains global operations in Asia, Europe, North America and Australia.

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