Saturday, September 6, 2008

LDK Solar Signs Wafer Supply Agreement with Solartech Energy Corp

XINYU CITY, China and SUNNYVALE, Calif., Sept 03, 2008 /PRNewswire-FirstCall via COMTEX/ -- LDK Solar Co., Ltd ("LDK Solar") , a leading manufacturer of solar wafers, announced today that it has signed a five-year contract to supply multicrystalline solar wafers to Taiwan-based Solartech Energy Corp. (Solartech).

Under terms of the agreement, LDK Solar will deliver approximately 550 MW of multicrystalline silicon wafers to Solartech over a five-year period, commencing in 2009 and extending through 2013. Solartech will make an advanced payment representing a portion of the contract value to LDK Solar.

"We are pleased to expand our long-standing relationship with Solartech with this additional contract," Xiaofeng Peng, Chairman and CEO of LDK Solar. "Having worked with Solartech since the company became one of our early customers; we look forward to continuing to support their expansion in the solar market."

"We are excited to strengthen our wafer supply pipeline with this additional agreement with LDK Solar," stated Charles C. Chang, President of Solartech. "LDK has been a valued partner to us as we have continued to expand our production capacity."

About LDK Solar

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

About Solartech

Founded in June 2005, Solartech Energy Corp. (Solartech) was established on the premise of creating a sustainable business that also provided green energy to the world. Solartech currently has 200 employees and R&D experts in solar cell technologies who are involved in the business of research, development, and manufacturing of high efficiency solar cells. Solartech has been equipped with a fully automated production line which currently has an annual production capacity of 60 MW but will be expanded from 60 MW to 180 MW in 2008. Solartech plans to reach its capacity beyond 1GW per year by 2014. With enterprising and pioneering spirit, Solartech strives to provide clean power to the world by expanding its services that facilitate the growth and expansion of photovoltaic projects while ensuring high quality products and developing cutting-edge technologies.

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