Monday, September 24, 2007

Polysilicon project broke ground in Xianyang, China

September 23, 2007 Shanxi Tianhong polysilicon project broke ground in Xianyang city.

Shanxi Tianhong is the joint venture of Shanxi Nonferrous Metal Holding Group, Shanxi Yanchang Petroleum Group, Xi'an Lvjing Technology and Shanxi Investment Group.

The polysilicon project investment is 3.7 billion RMB, and the total production capacity will be 3,750 tons. The first phase project is 1,250 ton electronic grade polysilicon, and the project will be completed in 24 months.

Academy maps out China's strategic energy plan

(Xinhua)Updated: 2007-09-24 14:54

The Chinese Academy of Sciences (CAS) has set out a strategic plan for the development of China's energy industry until 2050.

The plan proposes three steps. The first is to develop energy-saving technology and master techniques in the collection, storage and utilization of carbon dioxide by 2020.

From 2021 to 2030, the focus will be on promoting nuclear energy and other renewable energies so they become main resources and maximizing the efficiency of solar energy.

Over the following 20 years, the academy advocates the reduction of fossil energies (coal, petroleum, natural gas) to less than 60 percent of total energy consumption.

"Drawing up a strategic plan for energy science and technology development is a significant guarantee to build a Chinese energy sustainable development system," said Lu Yongxiang, CAS president."

China should establish a renewable energy system by 2050 with which the amount of energy produced could generally meet the domestic demands of economic development," he added.

Last week, China's Minister of Science and Technology Wan Gang announced plans to establish a batch of international laboratories and research centers to strengthen cooperation in research and energy exploitation between governments and non-governmental organizations around the world.

LDK Solar Signs Wafer Sales and Equipment Purchase Agreements with Sunways AG

September 24, 2007: 03:15 AM EST

XINYU CITY, China and SUNNYVALE, Calif., Sept. 24 /PRNewswire-FirstCall/ -- LDK Solar Co., Ltd. , a leading manufacturer of multicrystalline solar wafers, announced today that it has signed contracts to supply multicrystalline solar wafers and to purchase polysilicon production equipment from Sunways AG.

Under the terms of the wafer supply contract, LDK Solar will deliver approximately 1 GW of multicrystalline solar wafers to Sunways over a ten-year period starting in 2008. Under the terms of the equipment purchase agreement, LDK Solar will purchase two readily available Siemens technology-based reactors and related plant equipment from Sunways. In addition, Sunways AG will provide support services to LDK Solar during the facility construction and the ramp up of polysilicon production.

"The equipment purchase agreement with Sunways AG further bolsters our confidence in LDK Solar's ability to meet the goal of ramping polysilicon production in 2008," commented Xiaofeng Peng, Chairman and CEO. "We are pleased to continue to build our infrastructure by securing readily available polysilicon reactors from Sunways to serve as an additional training resource for our engineers and operators as we ready our facilities for polysilicon production of our previously announced 15,000 ton polysilicon plant. With this new additional project, we expect to raise our polysilicon capacity to 7,000 tons by the end of 2008 and 16,000 tons by the end of 2009"

"Securing solar wafer supplies is an imperative component to the successful growth of our company," stated Roland Burkhardt, CEO of Sunways. "We are excited to enter this agreement with LDK Solar, a leading supplier of high quality solar wafers."

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 Sunways AG

Sunways AG is one of the leading photovoltaics companies in Germany in terms of technology and quality. Its core competence is the development and production of solutions and products for the generation of electricity from solar energy, such as solar cells, inverters, solar modules and systems. The company has been quoted on the stock exchange since 2001, and since 2003 in the Prime Standard. In the fiscal year 2006, the consolidated sales of Sunways AG rose by 67 percent to 152.3 million Euro. Consolidated EBIT amounted to 1.0 million Euro, consolidated net income to approx. 1.7 million Euro.