SPI to supply modules for KDC projects; releases Q3 financial results

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SPI Solar has signed an agreement to supply KDC Solar with US$42 million of LDK modules for a range of upcoming PV projects in New Jersey.

The contract further consolidates the relationship between the two firms; this June, SPI unveiled a three-year partnership with KDC, whereby it would serve as KDC’s preferred engineering, procurement and construction (EPC) and operations and maintenance service provider.

“The KDC Solar pipeline continues to ramp as we pursue multiple new projects together that should continue to build our revenue into the next few years,” said SPI CEO Stephen Kircher.

“This order represents only a portion of the total expected orders that should result from our preferred provider agreement with SPI and LDK,” added KDC’s president and chief operating officer Alan Epstein. “All of the modules in this US$42-million transaction will be used for behind-the-meter projects in New Jersey as we continue to work with our customers to lower their cost of operations and preserve and create jobs within this state through clean solar power.”

This announcement coincides with last week’s release of SPI’s Q3 financial results. Total net sales for the period were US$22.1 million – US$14.9 million higher than Q2 and up US$4 million from 2010's corresponding number. Total net sales for the first nine months of the year were US$42.6 million.

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