LDK Solar sells 2.2GW Hefei-based solar cell plant for just US$19.4 million

Facebook
Twitter
LinkedIn
Reddit
Email

Having defaulted on a bond due to cash flow problems, struggling PV manufacturer, LDK Solar has sold its major crystalline solar cell production plant to an affiliate of the Hefei City government for a nominal US$19.4 million.

LDK Solar High-Tech (Hefei) Co., Ltd., located in Hefei City of Anhui Province in China had a solar cell manufacturing capacity of at least 2.2GW, which started production in early 2011 as part of LDK Solar’s strategy to become a fully-integrated module manufacturer rather than a wafer specialist.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

LDK Solar has another smaller cell manufacturing facility Xinyu with a capacity of around 300MW per annum, according to previous company documentation.

Although the latest deal with Hefei High Tech Industrial Development Social Service Corporation provides much needed cash to the company, LDK Solar said in a statement that based on the book value of the facility it would report a net loss attributed to the sale of between US$80 – US$90 million.

The Hefei plant was said by management during its second quarter 2011 conference call to have been the main target for capital expenditure that year, which was said at the time to be in the region of US$700 million.

LDK Solar had previously struck a deal with Shanghai Qianjiang Group to purchase the Hefei solar cell facility. However, the company said that the buyer failed to secure government approvals by a March 30 deadline. 

Read Next

July 30, 2025
Donald Trump has announced a 25% tariff on all imports entering the US from India from the 1st August 2025.
July 30, 2025
Wind and solar PV are set to cover over 90% of the increase in global electricity demand this year, according to the IEA.
July 30, 2025
US solar tracker manufacturer Nextracker recorded revenues of US$864 million and a gross margin of 32.6% in the quarter ending June 27, 2025.
July 30, 2025
The Government of Kyrgyzstan has signed two investment deals with Vietnamese firms Rox Energy Global and RECA LLC for the development of a 1.9GW solar project.
July 30, 2025
Spanish solar energy company Soltec has found an investor that will acquire 80% of the company’s shares in a restructuring move.
July 29, 2025
US renewables developer Savion, a subsidiary of global oil giant Shell, has formed a new company to take ownership of its solar projects after development.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK