Solar developer SPI Solar has entered into a framework agreement to acquire 168.5MW of solar projects from engineering, procurement and construction (EPC) firm TBEA Sunoasis.
TBEA Sunoasis’ projects span across China from Gansu Province, to Xinjiang Region, to Inner Mongolia Region and Qinghai Province. The projects are expected to connect to the grid starting from 2014 to the end of 2015.
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The two companies will enter into a definitive equity interest purchase agreement no later than 31 March 2015, in accordance to the closing conditions set out in the framework agreement.
Xiaofeng Peng, chairman of SPI, said: “We are delighted to announce these agreements with TBEA Sunoasis, a leading provider of advanced solar products and system integration services. This important strategic partnership is part of an ongoing effort by SPI to take advantage of a rapidly expanding PV installation market across China through collaborations with key players.”
SPI has agreed a number of project deals in China with its recently announced quarterly results highlighting the benefits of that.