August 26, 2009

Xinyu City, China: LDK Solar Signs 500MW PV Projects Agreement

LDK Solar 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.

Further details about: LDK Solar