LDK Solar Co. Ltd. has entered into a framework agreement with Best Solar Co. Ltd. to cooperate on downstream photovoltaic projects. Under terms of the agreement, LDK Solar will supply the solar wafers, and Best Solar will manufacture the solar modules.
‘Although we have established a PV engineering company to construct solar power stations in and outside China, we have not yet engaged in any substantial downstream PV businesses, such as solar cell or module manufacturing, solar panel assembly or provision of certain solar utility services,’ states Xiaofeng Peng, chairman and CEO.
‘Best Solar, on the other hand, is a large manufacturer of solar modules and a significant provider of solar panel solutions,’ Peng continues. ‘Additionally, Best Solar is in possession of the relevant product certifications in several jurisdictions.’
Best Solar is owned by LDK New Energy Holding Ltd., which is LDK Solar's controlling shareholder, and Peng. Best Solar has agreed to provide the solar manufacturing services to LDK Solar at comparable pricing to independent third parties for similar quantity and quality.
SOURCE: LDK Solar Co. Ltd.