Embattled wafer manufacturer LDK Solar’s China-based subsidiary has secured a 765MW supply deal with a Taiwanese PV firm.
In a rare bit of positive news for the company, its subsidiary Jiangxi LDK Solar Hi-Tech will ship wafers to Solartech Energy Corporation, a cell manufacturer based in Taiwan.
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LDK is currently navigating insolvency proceedings in the Cayman Islands, where it has appointed liquidators to deal with the company’s debt problems. Throughout much of the second half of 2013 LDK sought to keep creditors at bay after failing to honour interest payments on a US$280 million bond, but finally entered provisional liquidation earlier this year. The company is also fighting a de-listing from the New York stock exchange.
In a statement, LDK’s joint provisional liquidators, Tammy Fu and Eleanor Fisher, both of Zolfo Cooper (Cayman) Limited, said shipments of the wafers to Taiwan would begin next month and run until April 2017.