LDK Solar announces development of 12 MW PV Project in Italy

Friday, Nov 09, 2012

LDK Solar Co., Ltd. ("LDK Solar") (NYSE: LDK), a leading vertically integrated manufacturer of photovoltaic (PV) products, today announced that its subsidiary company, Solar Green Technology ("SGT") of Italy, has completed design and construction of a 12 megawatt (MW) PV project known as "Century."

The Century project consists of industrial rooftop PV plants ranging between 300 and 1,000 kilowatts (kW), located throughout Italy. A portion totaling approximately 7.8 MW of this project has been completed and 40% of the financing was provided by LDK Solar. These projects will benefit from the Fourth Conto Energia, which was issued in May 2011 by the Italian Ministry of Economic Development and the Ministry of Environment, and provides incentives based on the type and size of the PV system.

"We are pleased to expand our presence in Italy's solar market through this project.  The completion of these projects demonstrates the existing demand for solar power in Italy and we look forward to continuing to broaden our relationships in this region," stated Xingxue Tong, President and CEO of LDK Solar.

"This project is one of the largest rooftop PV plants.  The strategic partnership between the parties involved confirms that the integration and cooperation among industry players, such as module manufacturers, EPC contractors and financial operators, can lead the development and implementation of projects in Italy with a goal of moving toward grid parity," stated Angelo Prete, Managing Director of Solar Green Technology.

Source: LDK Solar