LDK Solar at full wafer capacity: 2GW of PV projects in pipeline

In reporting its third quarter financial results, LDK Solar noted that it had expanded solar wafer production capacity to 1.7GW and was currently operating at full capacity. Xiaofeng Peng, Chairman and CEO, noted that LDK had been awarded contracts totalling 2GW of solar installation projects across multiple provinces in China. As the company ramps its new module capacity it has also contracted with Best Solar for solar cell and module production. “In China, the momentum in the local solar industry has continued to be encouraging,” noted Peng. “We have been awarded initial contracts to develop PV power projects in buildings, plants and integration systems, totalling up to 2GW in various provinces. We will also co-operate with Best Solar on downstream PV projects, such as solar cell or module manufacturing, solar panel assembly or provision of certain solar utility services.

LDK Solar also reported net sales for the third quarter of US$281.9 million, compared to US$228.3 million for the second quarter of fiscal 2009, and us$541.8 million for the third quarter of fiscal 2008.

For the fourth quarter, LDK guided revenue to be in the range of US$280 million to US$310 million with wafer shipments between 320MW to 340MW and module shipments between 20 MW to 30 MW.

Capital spending would be approximately US$100 million in the fourth quarter but approximately US$300 million for 2010.