XINYU CITY, CHINA & SUNNYVALE, USA: LDK Solar Co. Ltd has entered into an agreement with Suqian City of Jiangsu Province for the development of PV power projects.
According to the agreement, LDK Solar will develop PV power projects in buildings, plants and integration systems, totaling up to 300 MW by 2015. 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 governmental departments prior to initiation.
"Suqian City has unique advantages in developing PV projects, with average annual sunshine of up to 3,000 hours as well as strong support from the government for growing the solar energy industry," stated Xu Huiming, Vice Mayor of Suqian City.
"Suqian City has become a leading area for the development of the solar PV industry and we hope that our partnership with LDK Solar will further increase our solar resources and promote the expansion of the local solar industry."
"We are very excited to partner with Suqian City and to support the development of its local economy and Chinese solar industry," stated Xiaofeng Peng, Chairman and CEO of LDK Solar. "We are encouraged by the continued support from our government for PV projects and pleased with the enthusiasm for this partnership demonstrated by Suqian City."
The PV application market has been rapidly developing in China this year and the Chinese government is supporting the establishment of the domestic PV market through the use of governmental financial subsidies.