LDK Solar just announced that it has entered a framework agreement with Best Solar Company. Under the agreement, the two companies will work together on downstream PV projects, with LDK providing solar wafers to Best Solar, and Best Solar assembling them into solar modules.

In a press release, Xiaofeng Peng, Chairman and CEO of LDK, commented on the agreement:

“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. Best Solar, on the other hand, is a large manufacturer of solar modules and a significant provider of solar panel solutions. Additionally, Best Solar is in possession of the relevant product certifications in several jurisdictions. In order to take advantage of the opportunities created by the latest PRC government policies to financially support the construction and operation of PV power stations in China, LDK Solar and Best Solar have agreed to cooperate with each other, by taking advantage of our respective complementary strengths in the different sectors of the PV industry, in order to achieve mutually beneficial results under the current market conditions.”