LDK Solar (LDK) In 500MW 5YR Agreement With Yancheng City, Up 6% AH

LDK Solar (LDK) is a solar stock that looks mighty sick technically, but it is recovering after hours on news it has entered into an agreement with Yancheng City of the Jiangsu Province to develop 500MW in solar PV projects over the next 5 years.  The projects will include ground mounted, rooftop and building integrated with all needing final government approval.  As I always say, China government approval won’t be a problem when it comes to green energy.  They will do everything it takes to be a leader in this space and are certainly on a path to success. 

“Yancheng City is currently one of the most important wind power bases in China. Yancheng City possesses the largest coastal area in Jiangsu Province and is rich in natural resources,” stated Li Qiang, Mayor of Yancheng City. “We plan to partner with LDK Solar to build large ground-power stations to take advantage of wind and photovoltaics as complementary power sources. With the support of the Chinese government and their financial subsidy programs, we hope that our partnership with LDK Solar further increases the development of solar resources and promotes growth of the solar PV industry in Yancheng City.”

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