SPI Energy’s Solar Juice Signs Contract with Australia’s Aboriginal Housing Office to Supply up to 2600 Properties with Solar PV Systems

Rhea-AI Summary

SPI Energy Co., Ltd. (SPI) has announced a contract through its subsidiary SolarJuice with the Aboriginal Housing Office (AHO) in New South Wales, Australia, to supply solar photovoltaic (PV) systems to up to 2,600 properties. This initiative, covering approximately 8.5 megawatts (MW) of solar PV, aims to reduce electricity costs for indigenous families and create jobs under a $212 million NSW government stimulus package. The rollout is set to begin in March 2021.

Positive

• Contract with Aboriginal Housing Office for up to 2,600 properties.
• Expected rollout of 8.5 MW of solar PV systems over 12 months.
• Supports economic benefits and job creation under NSW stimulus package.

Negative

• None.

SANTA CLARA, CA / ACCESSWIRE / March 3, 2021 / SPI Energy Co., Ltd. ("SPI Energy" or the "Company") (NASDAQ:SPI), 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 its SolarJuice Co., Ltd. ("SolarJuice") subsidiary, has entered into a contract with the Aboriginal Housing Office (AHO), a government department of New South Wales (NSW), Australia, to supply solar photovoltaic (PV) systems to up to 2,600 properties across NSW. Under the terms of the contract, SolarJuice will begin the NSW program rollout in March 2021.

The contract represents approximately 8.5 megawatts (MW) of solar PV which will be deployed over a 12-month period across residential properties under the AHO umbrella. The program is part of delivering real benefits in driving down the costs of electricity to thousands of indigenous families and communities across NSW.

The NSW government's recent $212 million stimulus package to the AHO will further expand its work and create much needed employment opportunities for Indigenous and non-Indigenous Australians across NSW to deliver equitable and affordable housing for Aboriginal people. The initiative gives tenants of the houses the opportunity to reduce their energy bills as the solar PV system provides electricity rather them just using power from the tenant's retail meter.

Andrew Burgess, Sales Director of SolarJuice, commented, "This solar program is designed to provide economic benefits to Aboriginal people and also contributes to zero emissions in the future."

The global solar energy market was valued at $52.5 billion in 2018 and is projected to reach $223.3 billion by 2026, growing at a CAGR of 20.5% from 2019 to 2026, according to Allied Market Research.

About SPI Energy Co., Ltd.

SPI Energy Co., Ltd. (the "Company") is a global provider of photovoltaic ("PV") solutions for business, residential, government and utility customers and investors. The Company develops solar PV projects that are either sold to third party operators or owned and operated by the Company for selling of electricity to the grid in multiple countries in Asia, North America and Europe. The Company's subsidiary in Australia primarily sells solar PV components to retail customers and solar project developers. The Company has its operating headquarter in Santa Clara, California and maintains global operations in Asia, Europe, North America and Australia.

About SolarJuice

SolarJuice Co., Ltd. ("SolarJuice") is the leader in renewable energy system solutions for residential and small commercial markets. Established in 2009, the Company is headquartered in Sydney, Australia and delivers a one-stop global solution for solar panels, inverters, and battery systems. Since inception, the Company has served over 3,000 B2B accounts and 400 customers. SolarJuice also plans to grow its supply chain, enhance its technology platform and looks to expand its product delivery throughout the Asia Pacific Region and the North America markets. With the recent acquisition of Solar4America, one of the largest privately held solar and roofing installers in the United States, this will allow the Company to serve more customers in the growing California, Nevada, Texas, Florida, and Colorado markets. With more than a million solar systems and roofs under its belt, the Pleasanton, CA-based company now employs hundreds of installers and operates in five states: California, Florida, Nevada, Colorado and Texas.

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 Energy Co., Ltd. Contact:

IR Department
ir@spigroups.com

Dave Gentry
RedChipCompanies, Inc.
Phone:(407) 491-4498
dave@redchip.com

SOURCE: SPI Energy Co., Ltd.

View source version on accesswire.com:
https://www.accesswire.com/633140/SPI-Energys-Solar-Juice-Signs-Contract-with-Australias-Aboriginal-Housing-Office-to-Supply-up-to-2600-Properties-with-Solar-PV-Systems

FAQ

What is the contract SPI Energy signed with the Aboriginal Housing Office?

SPI Energy's subsidiary SolarJuice signed a contract to supply solar PV systems to up to 2,600 properties for the Aboriginal Housing Office in New South Wales.

How many megawatts will SPI Energy deploy under the new contract?

SPI Energy will deploy approximately 8.5 megawatts (MW) of solar PV systems under the contract.

When will the rollout of the solar PV systems begin?

The rollout of the solar PV systems is set to begin in March 2021.

What is the purpose of the solar PV program initiated by SPI Energy?

The solar PV program aims to reduce electricity costs for indigenous families and create jobs as part of a NSW government stimulus initiative.

What is the expected impact of this contract on SPI Energy's business?

The contract may enhance SPI Energy's market presence in Australia and contribute to its revenue growth through increased solar installations.