Vertically-integrated Chinese module manufacturer LDK Solar has signed a module supply contract with EA Solar Phitsanulok, a subsidiary of Energy Absolute Public Company. Energy Absolute, a renewable energy development company based in Bangkok, has a total of five solar power subsidiaries including EA Solar Phitsanulok.
Under the agreement, LDK Solar will supply approximately 67 MW of PV modules to the Thai PV project developer. Delivery will commence in September, and is expected to be completed by the fourth quarter of 2015. The PV project will be developed in the state of Phitsanulok, in lower northern Thailand. According to Energy Absolute’s website, the project will receive an adder of THB6.5/kWh (US$0.182/kWh) for a period of ten years from the date of commissioning. The Thai PV market is expected to grow faster than other Southeast Asian countries with a capacity between 700 MW and 1.2 GW expected to be added this year.
"We are pleased to enter into this new agreement with EA Solar Phitsanulok," stated Xingxue Tong, President and CEO of LDK Solar. "Our commitments to customers worldwide, with both branding and quality, have again expanded our business coverage globally. With this new order for module shipments to Thailand, we reiterate our commitment to our customers in the China domestic market and in the international markets. Although we experienced slower than expected business in the first half of 2015, we are confident that the sales and marketing outlook in the second half of 2015 will be much improved. We strike our efforts in rebuilding LDK Solar as one of the major players in the solar industry," concluded Tong.
LDK Solar finally emerged from insolvency proceedings in April this year with the grand court of the Cayman Islands ordering LDK’s liquidators to relinquish their duties.