LDK Solar secures module deal and PV project plans

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Struggling LDK Solar said it had secured a 64MW PV module supply agreement with Thailand based energy supplier Energy Absolute PCL, while recently announcing its PV project development subsidiary SPI Solar has signed a 50MW agreement with Chinese provisional government, Fenyi County, Jiangxi Province.

Announced by LDK Solar’s Joint Provisional Liquidators (JPLs) in the Cayman Islands, LDK Solar Hi-Tech (Nanchang) Co., Ltd., the module manufacturing subsidiary of LDK Solar is to start module shipments to Energy Absolute at the end of July 2014 with order completion expected by the end of September for a large-scale project in Lampang, Thailand.

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Xingxue Tong, President and CEO of LDK Solar said: “After providing 63MW of modules to Energy Absolute PCL's project in Nakornsawan last year, this follow-on order exhibits LDK's commitment to our customers and the region.”

LDK Solar had previously announced a 63MW module supply agreement with EA Solar Nakornsawan Co, a direct subsidiary of Energy Absolute in April 2013, although no reference in SEC filings at the time were made to were Energy Absolute. LDK Solar has not announced such supply deals with any other company since that time.

In a separate announcement, LDK Solar subsidiary SPI Solar has signed a 50MW PV power plant project with the government of Fenyi County, Jiangxi Province, China, without providing timelines or financial terms.

US-OTC listed developer SPI Solar has been impacted by the chronic financial position of its Cayman Island registered parent and has only recently secured financing to continue operating. 

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