LDK Solar Signs Two European Deals

LDK Solar (NYSE: LDK) announced two significant deals this week.

The Chinese manufacturer of multicrystalline solar wafers announced an agreement with Italian firm UNi Land S.p.A. (UNL.MI) to develop and construct PV plants totaling 20 megawatts (MW) in 2010 and 2011.

LDK Solar will manage engineering, procurement and construction of the plants and will also supply the solar modules. Uni Land will finance the PV project operations.

In addition to the agreement to develop PV plants, Uni Land (www.unilandspa.it) purchased a 1-MW plant located in Apulia Region of Italy with mono-axis technology from LDK Solar for EUR 5 million (US$7.3 million).

"We are continually expanding LDK Solar’s presence in the fast growing Italian market," stated Xiaofeng Peng, Chairman and CEO of LDK Solar. "This agreement with Uni Land marks another strategic milestone for us as we strengthen our position in the European PV power plants market, and continue to explore new business opportunities."

Enfinity Supply Agreement

LDK also announced that it has signed a contract to supply solar modules to Belgium-based Enfinity. Under terms of the agreement, LDK Solar will deliver approximately 50 MW of solar modules to Enfinity in 2010.

"We are very excited to expand our relationship with Enfinity," stated Xiaofeng Peng, Chairman and CEO of LDK Solar. "This new module sales contract with Enfinity reflects the growing interest and demand for our quality module products from European customers."

"We are very pleased to secure LDK Solar’s quality modules, the contract reflects one quarter of our total demand for 2010," stated Gino Van Neer, Board member of Enfinity. "We look forward to further cooperation with LDK Solar as we continue to build our leadership presence in the renewable energy sector."

In May, Enfinity (www.enfinitycorp.com) announced plans to co-develop a portfolio of rooftop solar installations in the U.S and Europe with Energy Conversion Devices (ECD) (Nasdaq: ENER).

In November, Enfinity and Titan Energy Systems announced a collaboration to construct 1 gigawatt of PV installation in India.

Website: http://www.ldksolar.com     
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