LDK Solar to acquire 70 percent of Solar Power

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In addition, the company will purchase certain components of SPI’s manufacturing equipment, and assume total manufacturing control of SPI’s former module manufacturing facility in Shenzhen, China. SPI will reportedly maintain a separate logistical team in Shenzhen to enhance project development, design and related project management functions at a new location. ?

According to LDK Solar, the transaction significantly strengthens SPI’s balance sheet, which will reportedly enable the acceleration of the development of its project pipeline. This primarily consists of utility-scale power plants and commercial/industrial distributed generation systems. In turn, the company says SPI’s growing development portfolio and pipeline should provide it with enhanced downstream benefits to its vertical integration model through module supply for large scale projects.

LDK chairman Xiaofeng Peng comments: "This transaction also expands our downstream vertical integration opportunities and provides LDK Solar and SPI the opportunity to jointly explore opening manufacturing operations in the U.S. to further enhance SPI’s competitive advantage in North America."

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