Solar Power Inc Announces Completion of $70 Million Private Placement

Solar Power Inc , SPI
Some of the best of SPI Rooftop Solar Projects.

Solar Power Inc , SPI ( Solar Thermal Magazine)

Solar Power, Inc, a vertically-integrated photovoltaic (“PV”) solar developer, this week announced the completion of its $70 million private placement, previously announced on December 15, 2014. The private placement consisted of $35 million of common stock sold at a purchase price of $2.00 per share and $35 million of convertible promissory notes.

Some of the best of SPI Rooftop Solar Projects.

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Net proceeds from the sale of the common stock and convertible promissory notes are intended to be used for expansion of SPI’s global PV project activities, the development of its energy internet businesses and general corporate purposes.

About Gordon Smith
Gordon's expertise in the area of industrial energy efficiency and alternative energy. He is an experienced electrical engineer with a Masters degree in Alternative Energy technology. He is the co-founder of several renewable energy media sites including Solar Thermal Magazine.