SPI Solar today announced that it has entered into an agreement to acquire both land and project development rights for a 6MW project in Susami City, Wakayama Prefecture, Japan. The agreement calls for SPI's Japan subsidiary, SPI Solar Japan GK, to provide engineering, procurement and construction ("EPC") services for the project, which SPI will own following its completion. Construction on the project is scheduled to begin in November 2014, with completion expected by August 2015.
"Having just recently established our Japan subsidiary in September 2014, we are delighted to have already announced several projects in this important market," said Xiaofeng Peng, Chairman of SPI. "As Japan is a core PV market for SPI, we plan to further develop our presence and PV portfolio in this country."