SPI Energy Partners with Common Energy to Connect New Community Solar Projects to the Oregon Electrical Grid
SPI Energy Co., Ltd. (NASDAQ:SPI) announced a partnership with Common Energy to enroll customers in its six community solar projects in Oregon's Portland General Electric territory. The projects, totaling 17 MW, are expected to generate over 24 million kWh of clean electricity annually, preventing over 16 million pounds of carbon emissions. The Oregon Community Solar Program allows households and businesses to subscribe for free, receiving credits that reduce their electricity costs. SPI aims to provide cost-effective energy solutions through this initiative.
- Partnership with Common Energy enhances customer access to community solar projects.
- 17 MW of renewable energy capacity expected to generate over 24 million kWh annually.
- Participation in Oregon's Community Solar Program offers cost savings for subscribers.
- None.
SANTA CLARA, CA / ACCESSWIRE / March 15, 2021 / SPI Energy Co., Ltd., (NASDAQ:SPI) (the "Company"), a global renewable energy company and provider of solar storage and electric vehicle (EV) solutions for business, residential, government, logistics and utility customers and investors, today announced that it has partnered with Common Energy to subscribe customers to SPI's six community solar projects in the Portland General Electric (PGE) territory in the greater Portland, Oregon area.
SPI's community solar projects total 17 megawatts (MW) and are expected to be completed in 2021 and 2022. Once the projects are completed, they will generate over 24 million kilowatt hours of clean electricity and prevent over 16 million pounds of carbon emissions annually.
SPI's Oregon solar project portfolio is participating under the state's new Community Solar Program, which was established by the Oregon state legislature in 2016. Under the program, households and businesses can subscribe to a community solar project for free and receive clean energy credits each month that lower their electricity bill. In addition, each subscriber receives the Renewable Energy Credits (RECs) generated for their share of the solar project.
Members of the public who are interested in supporting one of the projects can enroll for free at Common Energy's website: www.commonenergy.us. Business served by Portland General Electric (PGE) are encouraged to email partners@commonenergy.us to see if they qualify.
Mr. Xiaofeng Peng, Chief Executive Officer of SPI Energy, commented, "We are pleased to partner with Common Energy to help Customers of PGE subscribe to our community solar projects in Oregon. We are happy with the progress of the Oregon Community Solar Program and look forward to providing PGE customers with a more cost-effective option for their electricity through our solar operations."
"We are excited to partner with SPI on this exciting portfolio," said Richard Keiser, CEO of Common Energy. "These projects provide additional clean energy to the electrical grid, lower carbon emissions for everyone in the community, and enable local households and businesses to save money."
About SPI Energy
SPI Energy Co., Ltd. (SPI) is a global renewable energy company and provider of solar storage and electric vehicle (EV) solutions for business, residential, government, logistics and utility customers and investors. The Company provides a full spectrum of EPC services to third-party project developers, as well as develops, owns and operates solar projects that sell electricity to the grid in multiple countries, including the U.S., the U.K., Greece, Japan and Italy. The Company has its US headquarters in Santa Clara, California and maintains global operations in Asia, Europe, North America and Australia. SPI is also targeting strategic investment opportunities in green industries such as battery storage and charging stations, leveraging the Company's expertise and growing base of cash flow from solar projects and funding development of projects in agriculture and other markets with significant growth potential.
For more information on SPI Energy and its subsidiaries, the Company recommends that stockholders, investors and any other interested parties read the Company's public filings and press releases available under the Investor Relations section at www.SPIgroups.com or available at www.sec.gov.
About Common Energy
Common Energy is a leading community solar provider serving over 10,000 customers across the country. Its platform enables homeowners, renters, and businesses to save money on their electricity and lower emissions in their community for free. Common Energy works with leading solar developers to connect and subscribe new, local community solar projects. Energy from the projects replaces fossil fuels, lowering emissions. As an incentive for supporting the project, each subscriber receives a monetary credit on their electricity bill, lowering their energy cost. Enrollment is free and can be completed in minutes on Common Energy's website (here). For more information visit www.commonenergy.us.
Forward-Looking Statements
This press release contains forward-looking statements, as that term is defined in the Private Litigation Reform Act of 1995, that involve significant risks and uncertainties. Forward-looking statements can be identified through the use of words such as may," "might," "will," "intend," "should," "could," "can," "would," "continue," "expect," "believe," "anticipate," "estimate," "predict," "outlook," "potential," "plan," "seek," and similar expressions and variations or the negatives of these terms or other comparable terminology. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect the Company's current expectations and speak only as of the date of this release. Actual results may differ materially from the Company's current expectations depending upon a number of factors. These factors include, among others, the coronavirus (COVID-19) and the effects of the outbreak and actions taken in connection therewith, adverse changes in general economic and market conditions, competitive factors including but not limited to pricing pressures and new product introductions, uncertainty of customer acceptance of new product offerings and market changes, risks associated with managing the growth of the business, and those other risks and uncertainties that are described in the "Risk Factors" section of the Company's annual report filed on Form 20-F filed with the Securities and Exchange Commission. Except as required by law, the Company does not undertake any responsibility to revise or update any forward-looking statements.
SPI Contact
SPI Energy Co., Ltd.
IR Department
Email: ir@spigroups.com
Common Energy Contact
James Miller
Email: james@commonenergy.us
SOURCE: SPI Energy Co., Ltd.
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