Business & Real Estate

Roseville’s SPI Solar has deal for Greek company

Roseville-based solar energy developer SPI Solar says it has agreed to pay $91.8 million for an international energy company and will take over solar projects in Greece with an annual generating capacity of nearly 26.6 megawatts.

SPI said it will acquire Sinsin Renewable Investment Limited. Registered in Malta, SRIL owns multiple solar projects in Greece. Officials said the acquisition is a cash and stock deal expected to close this month.

The agreement is the latest in a flurry of deals landed by SPI.

Early this week, SPI announced that it had a deal to develop, finance, construct, own and operate two power projects in the United Kingdom, with a projected 30.5 megawatts of annual solar energy generating capacity.

Last week, SPI said its wholly owned subsidiary, Xinyu Xinwei New Energy Co. Ltd., received approval to build a 30-megawatt project in the Chinese city of Zhongwei. It also announced preliminary approval to develop a 10-megawatt solar project in the eastern China city of Liaocheng.

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