Solar business from Korea

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...

Major business partners Q-Cells and LDK Solar have fallen out over a significant solar wafer supply deal, which could see Q-Cells claim back US$244.5 million from LDK Solar for missing wafer and polysilicon supply obligations under a contract signed in late 2007. Q-Cells said in a statement that disagreements over the contract supply conditions led to arbitration at the International Chamber of Commerce (ICC) in Paris, yet no amicable settlement has so far been reached. The 20 07 Take or Pay supply contract would see L DK Solar deliver more than 6GW of multicrystalline solar wafers to Q-Cells over a ten-year period commencing in 2009 through 2018. Q-Cells said that this equated to 43,000 tonnes of silicon over the contract peri od and specifically for 2009, equated to approximately 1,000 tonnes of silicon. As was typical in 2007 with polysilicon shortages, an advanced payment was made to secure the capacity. Q-Cells noted that it made a US$244.5 million advance to LDK Solar in the beg...