LDK Solar to build 1GW solar cell facility in China

LDK Solar is preparing to build a 1GW solar cell production facility in China's Anhui Province. The Anhui provincial government invited LDK Solar to construct a solar cell and module facility at the Hefei High-Tech Industrial Development Zone in the province's capital city of Hefei as part of its efforts to build a renewable energy manufacturing hub. The facility, which is expected to open in the second quarter of 2011, will churn out 1GW of crystalline-based solar cells and 500MW of solar modules.

Hefei High-Tech Construction and Investment Group will bankroll the project at a cost of about $368 million for three years. LDK Solar chief financial officer Jack Lai hailed Hefei City's support for the project, saying, "With this new investment, we will broaden and expand our research and manufacturing capabilities in the complete solar value chain which enables us to strengthen the support to our module customers and improve our profitability further."