The agreement includes financing, design and specific location of each of the projects.
The agreement needs a feasibility study and final approval from relevant state departments prior to initiation.
“Yancheng City is currently one of the most important wind power bases in China. Yancheng City possesses the largest coastal area in Jiangsu Province and is rich in natural resources,” stated Li Qiang, mayor of Yancheng City. “We plan to partner with LDK Solar to build large ground-power stations to take advantage of wind and photovoltaics as complementary power sources. With the support of the Chinese government and their financial subsidy programs, we hope that our partnership with LDK Solar further increases the development of solar resources and promotes growth of the solar PV industry in Yancheng City.”
“We are pleased to partner with Yancheng City on PV projects and participate in the development of the Jiangsu coastal area. We believe that an increasing number of PV application projects will originate in China in the future and we will continue to work to position LDK Solar favorably within China’s rapidly developing PV market,” stated Xiaofeng Peng, chairman and chief executive officer of LDK Solar.
