SPI China (HK), a subsidiary of California-based SPI Power, will pay $91.78m for full ownership of Sinsin using cash and $27.5m in SPI stock at 72 cents per share.
Sinsin has 360MW of PV projects that it intends to develop or invest in during the next three years.
The agreement contains a provision enabling Sinsin or its affiliates to select SPI Power or its subsidiaries to provide engineering, procurement and construction services for those projects.
“This
