Business / Solar firms warned on delisting

LDK Solar wins three 200 mW contracts in China

(Agencies) Updated: 2012-06-05 13:55

Solar products maker LDK Solar Co Ltd said it signed three multi-year contracts to develop solar projects totaling 600 megawatts in Northwest China's Gansu province, Reuters reported Monday.

The projects will be in the cities of Jiuquan, Jayuguan and Zhangye, where the company will build plants of 200 mW each.

"These contracts demonstrate continued demand for photovoltaic project development services within China," LDK Solar Chief Executive Officer Xiaofeng Peng said in a statement.

LDK Solar has said that it expects China's solar power demand to increase to 3-4 gigawatts this year from about 1 gW in 2011. The company's sales to China made up 39 percent of total sales in 2011, up from 34 percent in 2010.

Most solar companies have indicated that they are looking to tap demand from emerging solar markets such as India and China to offset steep subsidy cuts in top markets Germany and Italy.

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