Welcome to our dedicated page for SPI Energy Co., Ltd. Ordinary Shares news (Ticker: SPI), a resource for investors and traders seeking the latest updates and insights on SPI Energy Co., Ltd. Ordinary Shares stock.
SPI Energy Co., Ltd. (NASDAQ:SPI) is a dynamic and globally recognized renewable energy company. Founded in 2006 in Roseville, California, and headquartered in McClellan Park, California, SPI Energy specializes in providing comprehensive solar, storage, and electric vehicle (EV) solutions. The company's operations span across North America, Australia, Asia, and Europe, making it a significant player in the renewable energy sector.
SPI Energy operates through three core divisions: SolarJuice, SPI Solar, and Phoenix Motor. SolarJuice excels in solar wholesale distribution in Australia, residential solar and roofing installations, and solar module manufacturing under the Solar4America brand. This division has a robust presence in the Asia Pacific and North America markets. SPI Solar and Orange Power manage commercial and utility solar projects, offering a full range of EPC services to third-party project developers. Phoenix Motor focuses on medium-duty commercial electric vehicles and is actively developing EV charger solutions, electric pickup trucks, electric forklifts, and other EV products.
The company has made significant strides in the solar module manufacturing sector. Its Solar4America division, based in Sacramento, California, has become a leading domestic producer of solar modules, producing 410W modules for residential markets and 550W modules for commercial and industrial markets. The division is expanding with a new manufacturing facility in Sumter, South Carolina, anticipated to enhance production capacity to 2.4GW by 2024.
Recently, SPI Energy announced the sale of 12 million shares of its subsidiary, Phoenix Motor Inc., reducing its ownership stake to 25.83%. This strategic divestment aims to improve the company's financial performance by eliminating the net losses of Phoenix Motor from SPI's financial statements. Additionally, SPI issued a $2.2 million 5% Convertible Promissory Note to Palo Alto Clean Tech Holding Limited, demonstrating confidence in its future market value and strengthening its financial foundation.
SPI Energy continues to explore investment opportunities in fast-growing green energy sectors such as battery storage, charging stations, and other EV technologies. The company's commitment to innovation and strategic growth positions it well in the competitive renewable energy landscape.
For the latest information, investors and stakeholders are encouraged to refer to the company's public filings and press releases available under the Investor Relations section at www.SPIgroups.com or www.sec.gov.
SPI Energy Co., Ltd. (NASDAQ: SPI) announced its participation in the NABCEP 2023 CE Conference in Saint Charles, Missouri, from March 27-30. Solar4America Technology, a subsidiary, will showcase innovative solar modules, including a 410W residential module and a 550W bifacial module for commercial and industrial markets. The Sacramento facility, which produces solar modules, currently has a capacity of 700 MW annually, set to ramp up to 2.4 GW by the end of 2023. The conference aims to provide continuing education to PV industry professionals, with experts from Solar4America available for inquiries at booth 49.
SPI Energy Co., Ltd. (NASDAQ: SPI) announced that its subsidiary, Solar4America, will showcase its American-made solar modules at the Solar + Wind Finance & Investment Summit in Phoenix, AZ, from March 12-15, 2023. Solar4America is the sole domestic manufacturer producing 550W solar modules in the U.S. The company’s Sacramento facility currently produces approximately 700MW, with plans to ramp up to 2.4GW in 2023. The showcased products include various solar modules tailored for residential and commercial markets. The summit will gather industry leaders for networking and deal-making opportunities.
SPI Energy Co., Ltd. (NASDAQ:SPI) announced its participation in the 35th Annual Roth Conference from March 12-14, 2023, in Dana Point, CA. The event will feature one-on-one meetings, fireside chats, and thematic panels with about 400 companies from various sectors, including renewable energy, technology, and healthcare.
SPI Energy focuses on solar storage and electric vehicle solutions for diverse customers, including residential and commercial sectors, and is making strides in EV solutions through its Phoenix Motor division. For registration details, visit here.
SPI Energy Co., Ltd. (NASDAQ:SPI) has announced a new 948 KW ground mount solar project in Euclid, Ohio, utilizing its American-made 550W (M10) solar modules. This initiative aims for completion by June 2024 and indicates a growing demand for domestic solar solutions in the commercial sector. The company's manufacturing facility in California currently produces 700MW, with plans to ramp up to 2.4GW in 2023. SPI's Solar4America is the first to offer these high-efficiency modules for commercial applications, benefiting from incentives from the Inflation Reduction Act.
SPI Energy Co., Ltd. (NASDAQ: SPI) announces its subsidiary, Solar4America, will showcase American-made solar modules at RE+ Northeast in Boston on February 22-23, 2023. The facility, based in Sacramento, currently has a production capacity of 700MW and aims to reach 2.4GW annually by 2024.
Among the products highlighted is the Pioneer5 575W TOPCON module with efficiency up to 22.3%. This event underscores SPI's focus on enhancing its position in the renewable energy market and meeting customer demand with domestic production.
SPI Energy Co., Ltd. (NASDAQ: SPI) has announced a robust financial outlook for 2023, forecasting revenues of $250 million to $300 million. The company anticipates a net income ranging from $29 million to $36 million, supported by expectations of an EBITDA positive and net profitable Q1 2023. SPI Energy, which focuses on renewable energy solutions and electric vehicles, believes its significant investments in solar and EV divisions will enhance growth as demand increases. The company operates globally, providing solar storage and EV solutions across key markets.
SPI Energy Co., Ltd. (NASDAQ: SPI) reported that its Independent Power Producing subsidiaries, Orange Power and SPI Solar, generated approximately 55,896,344 kilowatt hours of renewable energy in 2022.
This output is equivalent to the energy consumption of over 9,300 European homes and contributed to the reduction of more than 37,930 tons of CO2 emissions. The company aims to expand its renewable energy projects to further enhance its environmental impact.
The global solar market is projected to grow from $52.5 billion in 2018 to $223.3 billion by 2026, indicating significant opportunities for SPI Energy.
SPI Energy Co., Ltd. (NASDAQ: SPI) announced its subsidiary Solar4America will participate in Intersolar North America from February 14-16, 2023, showcasing American-made solar modules at Booth #1011. The Sacramento-based facility currently has a production capacity of approximately 700MW, aiming to ramp up to 2.4GW in 2023. The company introduced its new Pioneer4 430W TOPCON All-Black module, featuring an efficiency of 22.3%. The event connects stakeholders in the clean energy sector, reinforcing SPI's commitment to renewable energy solutions across various markets.
SPI Energy Co., Ltd. (NASDAQ:SPI) announced the appointment of Dr. Yuepeng Wan as Chief Technology Officer of its subsidiary, SEM Wafertech, on January 24, 2023. Dr. Wan, a renowned expert in the silicon wafer industry with over 20 years of experience, aims to lead the company's efforts in expanding solar wafer manufacturing capacity to 3GW by 2024. The initial production target is set at 1.5GW for the U.S. market in 2023, addressing the increasing demand for locally sourced solar wafers and mitigating supply chain risks. This strategic move is anticipated to generate high-margin revenue for SPI Energy.
SPI Energy Co., Ltd. (NASDAQ:SPI) announced updated revenue guidance, projecting $250 million to $300 million for 2023 and revising 2022 expectations to $174 million to $176 million, marking a 7.41% to 8.64% increase year-over-year. CEO Xiaofeng Peng emphasized a clear path to profitability, driven by growth in solar module production and electricity sales through subsidiaries like Orange Power. The company anticipates significant revenue boosts from new solar projects and increased manufacturing capacity, particularly aided by incentives from the Inflation Reduction Act. SPI maintains operations across multiple continents, focusing on renewable energy solutions.
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