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LDK Solar has entered into an agreement with Yancheng City of Jiangsu Province for the development of PV power projects. This agreement states that LDK Solar will develop a number of PV power projects, including PV ground-power stations, and roof and building integration systems totaling up to 500MW over a period of five years.
Jiangsu Province is fast becoming a popular renewable energy location, this news coming just a month after China signed a MOU with the U.S. on solar cooperation and ReneSola signed a letter of intent for a 500MW on-grid solar power plant in the area. The terms of this latest agreement, including financing, design and specific location of each of the projects, will require a feasibility study as well as final approval from relevant state departments prior to initiation.
Li Qiang, Mayor of Yancheng City said, "We plan to partner with LDK Solar to build large ground-power stations to take advantage of wind and photovoltaics as complementary power sources. With the support of the Chinese government and their financial subsidy programs, we hope that our partnership with LDK Solar further increases the development of solar resources and promotes growth of the solar PV industry in Yancheng City."
"We are pleased to partner with Yancheng City on PV projects and participate in the development of the Jiangsu coastal area. We believe that an increasing number of PV application projects will originate in China in the future and we will continue to work to position LDK Solar favorably within China's rapidly developing PV market," stated Xiaofeng Peng, Chairman and CEO of LDK Solar.
