European Solar Getting A 100 Megawatt Boost In 2010

LDK Solar, a leading manufacturer of multi-crystalline solar wafers, has signed an agreement with Global Power Resources to develop and construct photovoltaic plants in Europe totaling 100 megawatts in 2010. LDK Solar will provide engineering, procurement, construction services, and supply the solar modules. GPR will acquire the final ownership of the PV plants.

The targeted 100MW of PV plants is expected to be completed by the end of 2010.

The project pipeline, which will be carried out by LDK Solar, will involve all the European countries currently participating in national feed-in tariff subsidies, such as France, Germany, Italy, and Spain.

“Our activities in Europe have been rapidly expanding and are progressing in line with our strategic plan,” stated Xiaofeng Peng, Chairman and CEO of LDK Solar. “Industry participants value LDK Solar as a reliable partner for investing in the PV sector.”

“We are pleased to announce this agreement with a world solar market leader such as LDK Solar. This partnership represents an important step in our strategy of expanding our ownership of PV plants in Europe,” commented Professor Eliyahu Kelman, Chairman of GPR.

LDK Solar Co., Ltd. is a leading manufacturer of multi-crystalline solar wafers, which are the principal raw material used to produce solar cells. LDK Solar sells multi-crystalline wafers globally to manufacturers of photovoltaic products, including solar cells and solar modules. In addition, LDK Solar provides wafer processing services to mono-crystalline and multi-crystalline solar cell and module manufacturers. LDK Solar’s headquarters and manufacturing facilities are located in Hi-Tech Industrial Park, Xinyu City, Jiangxi Province in the People’s Republic of China. LDK Solar’s office in the United States is located in Sunnyvale, California.

GPR Global Resources Ltd. is a Zurich based company active in the purchase of renewable energy plants located throughout Western Europe. GPR’s investment strategy is to source alternative energy plants that yield very attractive rates of return for its investors. GPR has developed considerable expertise in the structuring and execution of cross-border acquisitions. GPR has a target to acquire and manage an excess of 2 Gigawatts over the next 24 months period.

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