LDK Solar Secures EPCM Services for Construction of Polysilicon Manufacturing Facilities in Xinyu City, PRC

September 07, 2007: 03:15 AM EST

XINYU CITY, China and SUNNYVALE, Calif., Sept. 7 /PRNewswire-FirstCall/ -- LDK Solar Co., Ltd. , a leading manufacturer of multicrystalline solar wafers, today announced that it has signed an agreement with Fluor Corporation to provide general engineering, procurement, construction management (EPCM) services for LDK's polysilicon manufacturing plant at its Xinyu, Jiangxi headquarters. The total contract is in excess of $1 billion.

This signed agreement is in line with the company's publicly announced plans to complete construction and reach a production capacity of up to 6,000 metric tons of polysilicon by the end of 2008 and 15,000 metric tons by the end of 2009. The company has also indicated that it plans to commence volume production by the end of 2008.

"We are pleased that Fluor will work with us to achieve high-quality construction management standards during this significant endeavor. Our partnership with a reputable EPCM service provider reiterates our commitment to remaining on schedule and within budget in establishing its polysilicon production plant," said Mr. Xiaofeng Peng, Chairman and Chief Executive Officer. "Speed of execution will be a key to this agreement, and there will be an incentive to Fluor if this project is performed ahead of schedule and below budget. This latest agreement once again demonstrates execution of our strategy as we align our resources to facilitate our capacity expansion plans."

About LDK Solar

LDK Solar Co., Ltd. is a leading manufacturer of multicrystalline solar wafers, which are the principal raw material used to produce solar cells. LDK sells multicrystalline wafers globally to manufacturers of photovoltaic products, including solar cells and solar modules. In addition, the company provides wafer processing services to monocrystalline and multicrystalline solar cell and module manufacturers. LDK's headquarters and manufacturing facilities are located in Hi-Tech Industrial Park, Xinyu City, Jiangxi province in the People's Republic of China. The company's office in the United States is located in Sunnyvale, California.

About Fluor

Fluor Corporation provides services on a global basis in the fields of engineering, procurement, construction, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 500 company with revenues of $14.1 billion in 2006. For more information visit http://www.fluor.com.

China Nuvo Solar Energy to Establish Chinese Pilot Facility

WEST PALM BEACH, Fla.--(BUSINESS WIRE)--China Nuvo Solar Energy, Inc. (the "Company" or "China Nuvo") (OTCBB: CNUV) announced today that it has executed a binding term sheet with Pioneer Materials, Inc. ("PMI") of Torrance, California, to establish a pilot development and manufacturing operation in PMI's Chengdu, Sichuan, China facility located in Chengdu’s West High Tech development zone.

The agreement with PMI has the objective of establishing initial production of solar cells using China Nuvo's licensed technology based on an invention titled "Photovoltaic cell with integral light transmitting waveguide in a ceramic sleeve". As discussed in the Company's previous press releases, China Nuvo's licensed technology offers a number of significant advantages in light trapping efficiencies and certain production economies compared to current technologies.

PMI is a manufacturer and supplier of materials for the semiconductor, hard drive media, optical media and photonic industries. PMI is developing for the solar energy industry advanced materials for thin film photovoltaics (solar cell) processing.

The companies are currently negotiating the terms of a definitive agreement that is expected to be completed within the next thirty days.

China Nuvo Solar Energy, Inc. is a development stage company that has acquired a license for exclusive worldwide rights to a unique solar cell technology.