North Coast Solar Stocks

September 8, 2009

LDK Solar to Cooperate with Best Solar on Downstream PV Projects

Filed under: LDK — Tags: , , , , — Jason @ 3:15 am

Tuesday September 8, 2009, 3:15 am EDT

XINYU CITY, China and SUNNYVALE, Calif., Sept. 8 /PRNewswire-FirstCall/ — LDK Solar Co., Ltd. (LDK), a leading manufacturer of multicrystalline solar wafers, today announced it has entered into a framework agreement with Best Solar Co., Ltd. (Best Solar) to cooperate on downstream photovoltaic (PV) projects. Under terms of the agreement, LDK Solar will supply the solar wafers and Best Solar will manufacture the solar modules.

“Although we have established a PV engineering company to construct solar power stations in and outside China, we have not yet engaged in any substantial downstream PV businesses, such as solar cell or module manufacturing, solar panel assembly or provision of certain solar utility services,” stated Xiaofeng Peng, Chairman and CEO. “Best Solar, on the other hand, is a large manufacturer of solar modules and a significant provider of solar panel solutions. Additionally, Best Solar is in possession of the relevant product certifications in several jurisdictions. In order to take advantage of the opportunities created by the latest PRC government policies to financially support the construction and operation of PV power stations in China, LDK Solar and Best Solar have agreed to cooperate with each other, by taking advantage of our respective complementary strengths in the different sectors of the PV industry, in order to achieve mutually beneficial results under the current market conditions.”

Best Solar is wholly owned by LDK New Energy Holding Limited, which is LDK Solar’s controlling shareholder, and wholly owned by Mr. Xiaofeng Peng, chairman and chief executive officer of LDK Solar. Best Solar has agreed to provide the solar manufacturing services to LDK Solar at comparable pricing to independent third parties for similar quantity and quality.

About Best Solar

Best Solar Co., Ltd. is one of the world’s largest solar panel solution providers for both thin film and crystal solar modules. The company has two sites, Best Solar SuZhou and Best Solar NanChang, which are designed to produce thin film solar panels as well as crystalline solar panels in phases. The Company’s partnership with the leading solar equipment provider Applied Materials and other major equipment suppliers allows Best Solar to use the most advanced technology in the thin film as well as the crystal solar market. In additional to the thin film product, the Company provides a whole spectrum of products that cover all of the most popular multicrystalline and monocrystalline modules in market place. By providing both thin film and crystal solar panel solutions in large volume, Best Solar is uniquely positioned to ensure its customers success in their competitive market places.

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