LDK Solar (LDK) announced this morning it has inked a 7 year supply deal with Italian based Helios Technology and will provide 70 MW of multicrystalline solar wafers beginning next year and extending through 2015
“As we continue to experience strong demand for our solar wafers, this particular agreement further expands LDK’s presence in Europe and represents the increasing geographic diversity of our customer base,” said CEO Xiafeng Peng.… Read the rest
LDK Solar released an update today describing the progress they have made so far in the construction of their 1000-metric ton polysilicon plant. Expect them to update their 4th quarter production estimates in a separate statement, but here’s where they are as far as building the plant in concerned, according to their press release:
… Read the restEquipment installation for the 1,000 MT annualized capacity polysilicon plant has been completed and plant process commissioning has commenced. To date,
Goldman Sachs changed the rating of several key solar power stocks from "Buy" to "Sell," according to 247Wallstreet.com. The stocks affected by the change include First Solar and SunPower. The downgrade seems to be the result of two major factors. First, some people are predicting that the supply of solar power will exceed demand for it by 2010. Secondly, the credit crunch makes it difficult for companies to get financing on new projects.
Goldman Sach’s … Read the rest
Soleil Securities has initiated coverage on both Suntech Power (STP) and LDK Solar (LDK) with Buy ratings on both. According to StreetInsider.com, Soleil had this to say on Suntech:
“The prospect of strong earnings growth through ’09 is offset by our expectation of a sharp decline in photovoltaic industry pricing in 2011 which will lead to an equally sharp decline in earnings in 2012.” Their price target is 41.
On LDK Solar:
“While we … Read the rest
ABB announced today that it has entered a new solar equipment, system and service contract with LDK Solar worth at least $36 million dollars. Under the contract, ABB will assist LDK Solar in the construction of a polysilicon production plant in Xinyu City, China.
Once its built, the new plant will be Asia’s largest, producing 15,000 metric tons of polysilicon per year. ABB will provide electrical systems, equipment and project management services to LDK. … Read the rest
In a week of financial turmoil, at least one company has managed to do well. LDK Solar’s follow-on offering raised $200.4 million by the end of the day Friday. In fact, demand for LDK’s shares was so strong that the company had to upsize the offering to meet it, from 3.8 shares to 4.8 million. However, their share price has dropped somewhat, falling 5.3% to $41.44 on Friday. FinanceAsia.com suggests that this may be a … Read the rest
LDK Solar (LDK) announced today it has filed a shelf registration statement on Form F-3 with the SEC providing for the offering on a delayed or continuous basis of equity and debt securities. In addition the company has filed a preliminary prospectus supplement wit the SEC for a proposed follow on public offering of ADS shares. The offering size is expected to be $150 million and 60% of the proceeds are going to be used … Read the rest
LDK Solar announced today that is has signed a 5-yr contract with Solartech Energy. Under the contract, Solartech Energy will receive 550 MW worth of the wafers over a 5 year period starting in 2009 and ending in 2013.
Xiaofeng Peng, the chairman and CEO of LDK Solar commented on the deal:
"We are pleased to expand our long-standing relationship with Solartech with this additional contract. Having worked with Solartech since the company became one … Read the rest
Today, LDK Solar announced that it has signed a 7-year contract to deliver approximately 440 MW of microcrystalline solar wafers Korean manufacturing company Hyundai Heavy Industries. The contract calls for the product to be delivered over 7 years, from 2009 to 2015. In exchange for agreeing to produce the wafers, LDK solar will receive a downpayment from Hyundai. Here is what the leadership of both companies had to say about the deal:
"We are pleased … Read the rest
LDK Solar, a company from China that manufactures solar wafers, held a ceremony 0n August 23rd to celebrate increased production capacity. At this time, their plant is capable of producing 1.0 GW of wafers, and they plan to increase that even further to 1.2 GW capacity by the end of the year.
Also, LDK Solar released financial projections for 2009, with predicted revenue exceeding analysts’ expectations. Here is their financial outlook for 2009:
… Read the rest2009