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SPI Solar looks into reinstatement of financing

Following improved results for Q3 2013, SPI Solar says that the China Development Bank (CDB) may reinstate financing for the company’s global engineering, procurement and construction (EPC) business.

“We are encouraged by our ongoing dialogue with CDB and are hopeful that this will result in the reinstatement of financing for current and future projects,” said Min Xiahou, global CEO of SPI. “In addition, as overall conditions in the solar industry and for SPI Solar improve – particularly for the availability of financing – we are excited by the potential to build out projects that we own in Hawaii while exploring how SPI Solar may seek additional business opportunities in China under the new management team.”

Total net sales for the third quarter of 2013 were US$21.2 million, up from US$4.2 million the prior quarter. For the third quarter of 2012, SPI Solar reported total net sales of US$36.2 million. 

 

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