LDK Solar Signs a Ten-Year Wafer Supply Agreement With Photovoltech

Thursday, Jul 17, 2008

XINYU CITY, China and SUNNYVALE, Calif., July 16 /PRNewswire-FirstCall/ -- LDK Solar Co., Ltd. (LDK Solar; NYSE: LDK), a leading manufacturer of multicrystalline solar wafers, today announced that it has signed a ten-year contract to supply multicrystalline solar wafers to Belgium-based Photovoltech.

Under the terms of the agreement, LDK Solar will deliver approximately 400 MW of multicrystalline silicon solar wafers to Photovoltech over a ten-year period commencing in 2009 through 2018. Photovoltech will make a down payment representing a portion of the contract value to LDK Solar.

"We are very pleased to enter into this long-term agreement with Photovoltech," stated Xiaofeng Peng, Chairman and CEO. "This most recent supply contract further displays the strong demand for our wafers and also enables us to continue expanding our presence in Europe."

"As we work to achieve our capacity expansion and growth goals to meet the increasing demands of the photovoltaic market in the coming years, we are very pleased to have LDK Solar as a long-term partner and look forward to their supply, in order to secure an important part of our wafer needs," commented Johan Nijs, General Manager of Photovoltech.

About LDK Solar (NYSE:LDK)

LDK Solar Co., Ltd. is a leading manufacturer of multicrystalline solar wafers, which are the principal raw material used to produce solar cells. LDK Solar sells multicrystalline and monocrystalline wafers globally to manufacturers of photovoltaic products, including solar cells and solar modules. In addition, the Company provides wafer processing services to monocrystalline and multicrystalline 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. Its office in the United States is located in Sunnyvale, California.

About PHOTOVOLTECH

Set up in December 2001, Photovoltech has the backing of three major shareholders: Total (47.8%), Suez - Electrabel - Soltech (47.8%) and IMEC (4.4%). As a spin-off of IMEC, Photovoltech has a variety of innovative technologies at its disposal. Its production process delivers cells that combine an outstandingly uniform appearance with high efficiencies (up to more than 16% on multicrystalline silicon cells). Due to the sustained and increasing growth of the photovoltaic market and strong demand for its products, Photovoltech aims to expand its capacity considerably and to continue to grow in the coming years. For further information on Photovoltech, see http://www.photovoltech.be

Source: PR Newswire