This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

SPI Solar Announces $42-Million Module Sale To KDC Solar LLC

SPI Solar (“SPI”) ( OTCBB: SOPW) a leading vertically integrated photovoltaic (“PV”) solar developer, and engineering, procurement and construction (“EPC”) services provider, today announced that it has closed a transaction with KDC Solar Credit LS LLC, an affiliate of KDC Solar LLC (“KDC Solar”), for the purchase of approximately $42 million of high-quality LDK solar modules all to be delivered to KDC this year. In June 2011 SPI announced that the Company and its majority shareholder, LDK Solar (“LDK”), had entered into a three-year agreement with KDC Solar to serve as KDC Solar’s preferred provider of EPC and operations and maintenance (“O&M”) services for a significant portion of KDC Solar’s portfolio of solar energy facility (“SEF”) projects. The LDK modules to be procured by SPI in this transaction are expected to be used in a variety of KDC Solar projects.

“This transaction underscores the value of our relationship with KDC,” said Stephen Kircher, CEO of SPI. “The KDC Solar pipeline continues to ramp as we pursue multiple new projects together that should continue to build our revenue into the next few years,” Mr. Kircher concluded.

“This order represents only a portion of the total expected orders that should result from our preferred provider agreement with SPI and LDK,” said Alan Epstein, President and COO of KDC Solar. “All of the modules in this $42-million transaction will be used for behind-the-meter projects in New Jersey as we continue to work with our customers to lower their cost of operations and preserve and create jobs within this state through clean solar power.”

“I am very pleased with this transaction and with the results of our agreement with KDC Solar thus far,” said Xiaofeng Peng, LDK’s Chairman and CEO. “I look forward to continued success as more projects are identified and started.”

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,022.31 -76.14 -0.45%
S&P 500 1,996.51 -6.86 -0.34%
NASDAQ 4,581.5590 +1.2880 0.03%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs