LDK Solar to repay Q-Cells loan early; reach agreement for price adjustment on solar wafers

Facebook
Twitter
LinkedIn
Reddit
Email

Q-Cells reached a deal with LDK Solar allowing the company to repay the remaining amount of, US$224.9 million, which Q-Cells loaned in 2008, in its entirety by the end of 2011. Payments of US$195 million from LDK Solar have been agreed to until the end of this year with an initial payment of US$56.2 million having already been made. Q-Cells has two unpaid convertible bonds with repayment of US$642.3 million for the first bond due in February 2012.

The initial repayment schedule saw a staged repayment plan that lasted until the end of 2015. In return for early repayment, the present bank guarantee, which the Q-Cells loan is secured by, will be decreased in stages and exchanged for other collateral.
 
Additionally, Q-Cells and LDK mutually agreed to adjust the prices on the existing solar wafer supply contract. Flexible prices will continue to apply for the rest of the contract through 2018, which will be in line with the market price and determined on a quarterly basis.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Read Next

September 12, 2025
Colombian energy supplier Celsia is seeking more than US$1.2 billion in investment to build wind and solar generation projects in Peru. 
September 12, 2025
German trade association BSW-Solar has called the German government for a simplified, standardised and more digitalised grid access for solar PV and energy storage operators.
September 12, 2025
ACME Venus Urja has secured INR3.8 billion (US$43 million) to develop and construct a solar-plus-storage project in Barmer, Rajasthan.
Premium
September 12, 2025
Vote Solar's Sean Garren tells PV Tech Premium that Georgia Power's latest IRP is 'skewed so heavily towards fossil fuels'.
September 11, 2025
Founder Group has won a RM10 million (US$2.3 million) engineering, procurement, construction and commissioning contract for a 30MW solar plant in Malaysia.
September 11, 2025
German renewable energy developer ib vogt has signed a 70MW solar PV virtual power purchase agreement (vPPA) in Romania.

Subscribe to Newsletter

Upcoming Events

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
Solar Media Events
October 7, 2025
Manila, Philippines