SPI Buying Rights to Develop 30 Megawatts of Solar in Japan

(Bloomberg) — Solar Power Inc., a renewable-energy project
developer backed by China’s LDK Solar Co., agreed to buy
development rights to solar farms in Japan with a combined
capacity of 30 megawatts.

The purchase from China Reinsurance Group Corp. will allow
SPI to build power plants in Kanagawa, Chiba, Ibaraki and
Fukushima prefectures, beginning next month, the Shanghai-based
developer said in a statement Wednesday. The solar farms are
expected to be operating by the first quarter.

SPI and China Re also agreed to explore developing an
additional 100 megawatts of projects in Japan. Terms weren’t
disclosed.

To contact the reporter on this story:
Justin Doom in New York at
jdoom1@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Tina Davis, Amanda Jordan

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