LDK Solar Co., Ltd. is to invest in a 1.5-gigawatt (GW) solar cell and module facility in Hefei High-Tech Industrial Development Zone in China, following an invitation from the country’s the Anhui Provincial Government. The aim, says the company, is to establish a renewable energy manufacturing hub in the Province.
The facility will include a total annualized capacity of 1.0 GW of crystalline-based solar cells and 500 megawatts of solar modules. Production is expected to commence in the second quarter of next year. Hefei High-Tech Construction and Investment Group will provide financing of RMB2.5 billion to LDK Solar for up to three years to build the facility.
"We are very pleased to receive strong support from Hefei City and look forward to establishing a world class solar cell and module manufacturing facility. With this new investment, we will broaden and expand our research and manufacturing capabilities in the complete solar value chain, which enables us to strengthen the support to our module customers and improve our profitability further," stated Jack Lai, CFO of LDK Solar.
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