LDK Solar Co., Ltd., a leading manufacturer of multicrystalline solar wafers, today announced that it has signed a five-year contract to supply multicrystalline solar wafers to China-based Jiangxi Solar PV Corporation (JSPV). Under the terms of the agreement, LDK Solar will deliver approximately 70 MW of multicrystalline solar wafers to JSPV, a new venture created by US-based Solar PV Corporation, over a five-year period commencing in 2009 through 2013. JSPV will make an advanced payment representing a portion of the contract value to LDK Solar.
"We are excited to enter this long-term wafer supply agreement with Jiangxi Solar PV as they launch a new venture within the Jiangxi Province," stated Xiaofeng Peng, Chairman and CEO of LDK Solar. "We are very pleased to begin this strategic partnership and aid in the development of more solar PV companies in Jiangxi."
"We are very pleased to enter into this agreement with LDK Solar to secure quality solar wafers," commented C. Chang, Chief Executive, Solar PV Corporation. "We look forward to a long-term relationship with LDK Solar as we work toward rapidly increasing our scale of operations and capacity to assume a leadership position."