According to foreign media reports, on April 20, 2026, the global " is noteworthy that the company once aspired to further develop the manufacturing business of the US silicon solar energy supply chain, but now it has not escaped the defeat. The actual controller behind SPI Energy is Peng Xiaofeng, the former "photovoltaic giant" in China .
Twice "chasing light", all broken halberd!
First, in July 2005, Peng Xiaofeng founded Jiangxi LDK Solar Energy High-tech Co., Ltd. in Xinyu, Jiangxi Province. However, due to the deterioration of the external market environment and its radical expansion, the company fell into bankruptcy reorganization in 2015. Peng Xiaofeng's first pursuit of "light" ended in a bleak ending. After the collapse
of LDK, Peng Xiaofeng did not stop. In 2015, he made a comeback with the Internet financial platform Green Energy Treasure, attracting nearly 2 billion yuan with the concept of "photovoltaic + Internet + finance".
However, the good times did not last long. In April 2017, Green Energy Treasure said that "due to the delay of photovoltaic subsidies and other reasons, the current platform withdrawal is overdue", and the total amount of overdue is up to 6. Peng Xiaofeng, the founder of the company, was also placed on file for investigation on suspicion of illegally absorbing public deposits, and the second photovoltaic attempt failed again.
By September 2022, SPI Energy established SEM Wafertech to enter silicon wafer manufacturing. Less than a year later, in July 2023, the company increased its local production capacity again, and officially announced a new heterojunction battery factory in the United States, which was built by Solar4America, a wholly-owned subsidiary, and is expected to be put into operation by the end of 2024.
(For details, please click: ") However, Peng Xiaofeng's photovoltaic ambitions do not stop there.
SPI Energy announced that by the end of 2023, its module production capacity will increase to 2. The initial plan of the silicon wafer business is 1. By 2024, it plans to increase it to 3GW .
In addition to the layout of the manufacturing side, SPI Energy is also building photovoltaic power plants in many places overseas. So far, Peng Xiaofeng's photovoltaic industry chain in the United States has covered the development and operation of silicon wafers, batteries, components and power plants.
Photovoltaic dream, broken again!
It is understood that Peng Xiaofeng had planned to achieve 3GW silicon wafer production capacity by the end of 2024. In the
battery sector, Peng Xiaofeng planned a heterojunction battery factory built by Solar4America, and the cumulative investment was limited to the equipment deposit stage; In the component sector, the annual output of the Sacramento component plant in California has never exceeded 750MW , and it has been quietly closed in early 2025. When
the house leaks, it rains all night.In January
2025, SPI Energy was forced to delist by Nasdaq because its long-term financial report was overdue and its share price was below $1 for a long time; In July of the same year, the Cayman Court ordered its liquidation , which is still in progress, and the Delaware Bankruptcy Court has scheduled a hearing for May 27, 2026. According to the
liquidation documents, SPI Energy still has $231 million in assets in 2022,
from Saiwei LDK to Green Energy Treasure, and now SPI Energy. Peng Xiaofeng's three photovoltaic dreams ended in failure . SPI Energy's bankruptcy is not an isolated case, in the context of intensified competition in the industry and prominent financial pressure, the reshuffle of the photovoltaic market is obviously far from over.
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