LDK Solar buys into US firm

Chinese solar energy giant LDK Solar Co announced Friday that the company aquired 70 percent interest in US-based Solar Power Inc (SPI) for approximately $33 million.

New York-listed LDK Solar had paid an initial $10 million in January, and the remaining $23 million was paid yesterday.

LDK is the world's largest manufacturer of solar wafers in terms of capacity. SPI is involved in material sourcing and manufacturing, as well as installing solar panels in the US, including a large rooftop solar business.