XINYU CITY, CHINA & SUNNYVALE, USA: LDK Solar Co. Ltd, a leading manufacturer of multicrystalline solar wafers, has signed an agreement with Uni Land S.p.A., an Italian company listed on the Italian Stock Market with operations in land banking, real estate development and renewable energies, to develop and construct PV plants totaling 20 megawatts (MW) in 2010 and 2011.
LDK Solar will manage engineering, procurement and construction of the plants and will also supply the solar modules. Uni Land will finance the PV project operations.
In addition to the agreement to develop PV plants, Uni Land purchased a 1 MW plant located in Apulia Region of Italy with mono-axis technology from LDK Solar for euro 5 million (equivalent to approximately $7.3 million).
"We are continually expanding LDK Solar's presence in the fast growing Italian market," stated Xiaofeng Peng, Chairman and CEO of LDK Solar. "This agreement with Uni Land marks another strategic milestone for us as we strengthen our position in the European PV power plants market, and continue to explore new business opportunities."
"We are proud to announce this partnership with a world solar market leader, LDK Solar. This partnership and PV plant purchase confirms our interest in the Italian PV market and reinforces our brand internationally," commented Alberto Mezzini, President of Uni Land SpA.