LDK Solar Co., Ltd.: agreement with Yancheng City of Jiangsu Province
LDK Solar Partners With Yancheng City on PV Projects
XINYU CITY, China and SUNNYVALE, Calif., Aug. 25 / LDK Solar Co., Ltd., a leading manufacturer of multicrystalline solar wafers, announced today that it has entered into an agreement with Yancheng City of Jiangsu Province for the development of PV power projects. According to the agreement, LDK Solar will develop a number of PV power projects, including PV ground-power stations, and roof and building integration systems totaling up to 500 MW over the next five years. The terms, including financing, design and specific location of each of the projects, will require a feasibility study as well as final approval from relevant state departments prior to initiation.
"Yancheng City is currently one of the most important wind power bases in China. Yancheng City possesses the largest coastal area in Jiangsu Province and is rich in natural resources," stated Li Qiang, Mayor of Yancheng City. "We plan to partner with LDK Solar to build large ground-power stations to take advantage of wind and photovoltaics as complementary power sources. With the support of the Chinese government and their financial subsidy programs, we hope that our partnership with LDK Solar further increases the development of solar resources and promotes growth of the solar PV industry in Yancheng City."
"We are pleased to partner with Yancheng City on PV projects and participate in the development of the Jiangsu coastal area. We believe that an increasing number of PV application projects will originate in China in the future and we will continue to work to position LDK Solar favorably within China's rapidly developing PV market," stated Xiaofeng Peng, Chairman and CEO of LDK Solar.
About LDK Solar (NYSE: LDK)
LDK Solar Co., Ltd. is a leading manufacturer of multicrystalline solar wafers, which are the principal raw material used to produce solar cells. LDK Solar sells multicrystalline wafers globally to manufacturers of photovoltaic products, including solar cells and solar modules. In addition, LDK Solar provides wafer processing services to monocrystalline and multicrystalline solar cell and module manufacturers. LDK Solar's headquarters and manufacturing facilities are located in Hi-Tech Industrial Park, Xinyu City, Jiangxi Province in the People's Republic of China. LDK Solar's office in the United States is located in Sunnyvale, California.
SOURCE LDK Solar Co., Ltd.
Jack Lai, Executive VP and CFO of LDK Solar Co., Ltd., +1-408-245-8801, IR@ldksolar.com; or Lisa Laukkanen of The Blueshirt Group, +1-415-217-4967, email@example.com, for LDK Solar