SPI to Buy All-Zip Roofing as China’s Demand for Solar Expands

(Bloomberg) — Solar Power Inc., a renewable-energy project
developer backed by China’s LDK Solar Co., agreed to buy
Shanghai All-Zip Roofing System Group as it seeks to sell more
rooftop systems.

SPI is buying All-Zip Roofing for 275 million yuan ($44.3
million), subject to closing conditions, the Shanghai-based
developer said in a statement Thursday.

The roofing company “fits well with SPI’s strategy to
capitalize on the growing market in China for the development of
distributed-generation solar,” Chairman Xiaofeng Peng said in
the statement. “All-Zip gives SPI a strong foundation to
capture market share.”

LDK owns about 24 percent of SPI, according to data
compiled by Bloomberg. SPI moved its headquarters to Shanghai
from California in January.

To contact the reporter on this story:
Justin Doom in New York at

To contact the editors responsible for this story:
Reed Landberg at
Jim Efstathiou Jr., Will Wade

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