LDK Solar Co. Ltd., a China-based integrated manufacturer of photovoltaic products, says that China Development Bank Corp. (CDB) has approved a 15-year project loan for two solar power plants with a total capacity of 8 MW. The solar power plants are located in California and are wholly owned by LDK Solar.
CDB has also approved a 15-year buyer's credit to KDC Solar LLC for its two New Jersey solar power plants, Imclone and White Rose, consisting of 14.7 MW of its 300 MW portfolio. Additionally, CDB approved two-year construction financing to EPC contractor Solar Power Inc., a company majority owned by LDK Solar, for its undertaking of the New Jersey projects.
‘The credit support from CDB not only satisfies LDK Solar's own PV project financing demand, but also meets the end customer's financing needs, which is expected to greatly promote LDK Solar's module sales and [engineering, procurement and contracting] business,’ says Xiaofeng Peng, chairman and CEO of LDK Solar. Â