SPI Energy Co., Ltd., a global renewable energy company and provider of solar storage and electric vehicle (EV) solutions for business, residential, government, logistics and utility customers, announced its SPI Solar Inc. (“SPI Solar”) subsidiary completed the sale of its Mauka FIT One project to a third-party buyer. The five-megawatt (“MW”) project is located on the North Shore of Oahu in Hawaii and sells solar-generated clean energy to the Hawaiian Electric Company. The 5MW solar project produces enough electricity to power approximately 1,000 homes per year.
“The successful development and sale of this solar project further showcases our commitment to the state of Hawaii as this is the seventh project completed on the island of Oahu and twelfth ground-mounted utility solar project completed by SPI in Hawaii,” said Xiaofeng Denton Peng, Chairman and CEO of SPI Energy. “We are delighted to contribute to the State of Hawaii’s goal of reaching 100 percent renewable energy by 2045 and continue to look for opportunities to expand our development projects in other regions of the US and globally.”
The U.S. installed 3.8 GW of solar PV capacity in Q3 2020 to reach 88.9 GW of total installed capacity, enough to power 16.4 million American homes. Wood Mackenzie forecasts 43% annual growth in 2020, with more than 19 GW of installations expected. In total, the U.S. solar market will install more than 107 GW of solar over the next five years.
About SPI Energy
SPI Energy Co., Ltd. is a global renewable energy company and provider of solar storage and electric vehicle (EV) solutions that was founded in 2006 in Roseville, California and is headquartered in Santa Clara, California.
The company has three core divisions: SolarJuice residential solar, the commercial & utility solar division comprised of SPI Solar and Orange Power, and the EdisonFuture/Phoenix Motor EV division. SolarJuice is the leader in renewable energy system solutions for residential and small commercial markets and has extensive operations in the Asia Pacific and North America markets. The commercial & utility solar division provides a full spectrum of EPC services to third party project developers, and develops, owns and operates solar projects that sell electricity to the grid in multiple geographies, including the U.S., U.K., and Europe. Phoenix Motor is a leader in medium-duty commercial electric vehicles, and is developing EV charger solutions, electric pickup trucks, electric scooters, and other EV products.