LDK Solar Co., Ltd., manufacturer of multi-crystalline solar wafers, has announced its acquisition of 70% of Italian system integrator, Solar Green Technology S.p.A.’s (SGT) shares.
This investment moves towards LDK Solar’s goal to develop additional projects and strengthen its presence in the Italian PV sector. SGT will provide project opportunities and technical support in terms of realization and control of PV turnkey plants to LDK Solar.
“We are very excited to acquire a controlling interest of Solar Green Technology,” stated Xiaofeng Peng, Chairman and CEO of LDK Solar. ” We believe access to SGT’s wealth of resources will be an effective and immediate tool for LDK Solar efforts in managing development activity in the Italian PV market, which is currently one of the most dynamic and profitable European markets.”
Giuseppe Truglio, one of the Solar Green Technology’s founders said, “This investment will enable SGT to grow rapidly through its involvement in several of LDK Solar’s important plant projects in Italy and throughout Europe.”