LDK Solar Co., Ltd. ("LDK Solar") (NYSE: LDK), a leading manufacturer of multicrystalline solar wafers, polysilicon and PV products, today announced that the Anhui Provincial Government has invited LDK Solar to invest in a world class solar cell and module facility in Hefei High-Tech Industrial Development Zone in order to establish a renewable energy manufacturing hub in the Province. The facility will include a total annualized capacity of 1.0 gigawatt of crystalline-based solar cells and 500 megawatts of solar modules, and production is expected to commence in the second quarter of 2011. Hefei High-Tech Construction and Investment Group will provide financing of RMB 2.5 billion to LDK Solar for up to three years to build this facility.
“We are very pleased to receive strong support from Hefei City and look forward to establishing a world class solar cell and module manufacturing facility. With this new investment, we will broaden and expand our research and manufacturing capabilities in the complete solar value chain which enables us to strengthen the support to our module customers and improve our profitability further,” stated Jack Lai, CFO of LDK Solar.