Chinese solar wafer maker to expand

GT Equipment Technologies Inc., a provider of photovoltaic manufacturing services, has entered into over a $33 million agreement with LDK Solar Hi-Tech Co. Ltd, a supplier of solar wafer products in China.

LDK will develop a nearly 75 megawatt wafer fabrication turnkey line for solar energy applications. The line is being produced by GT Equipment Technologies' solar division, GT Solar Technologies (Merrimack, N.H.).

By October of 2005, LDK Solar will double its solar wafer capacity with GT Equipment and expects to reach 200 megawatts by the end of 2006 to become one of the major suppliers worldwide. Solar wafers are the primary component for the production of solar electric panels.

"This is the largest contract in GT Equipment's 11-year history," said Chairman and CEO Kedar Gupta, in a statement. "It will provide LDK Solar with the ability to manufacture and sell solar wafers in the major market of China where the demand for energy resources is growing at a fast clip."

"We are enthusiastic about our relationship with GT Equipment Technologies, and about the opportunity we have to manufacture solar wafers for distribution in China and worldwide," said Light D.K. Peng, president of LDK Solar, in a statement. "Our total investment to date in this solar energy project is $72.5 million, including the amount announced today."

LDK Solar Hi-Tech Co. Ltd located in Xinyu City, Jiangxi, is a part of Liouxin Group, which has 12,000 employees, and is a major company in Asia for the manufacture of personal protective equipment (PPE), power tools and elevators. With this agreement, the company is diversifying into solar energy products.

- Mark LaPedus

EE Times