|LDK Signs Five-Year Wafer Supply Agreement with XL Telecom & Energy Limited|
Wednesday August 13, 3:15 am ET
XINYU CITY, China and SUNNYVALE, Calif., Aug. 13 /PRNewswire-FirstCall/ -- LDK Solar Co., Ltd ("LDK Solar"; NYSE: LDK), a leading manufacturer of solar wafers, today announced that it has signed a five-year contract to supply multicrystalline solar wafers to India-based XL Telecom & Energy Limited.
Under the terms of the agreement, LDK Solar will deliver approximately 300 MW of multicrystalline silicon solar wafers to XL Telecom & Energy Limited over a five-year period, commencing in the first quarter of 2009 and extending through 2013. XL Telecom & Energy Limited will make a down payment representing a portion of the contract value to LDK Solar.
"We are pleased to enter into this long-term supply contract with XL Telecom & Energy Limited, a leading Solar Export company," stated Mr. Xiaofeng Peng, Chairman and CEO of LDK Solar. "With this most recent supply contract we are looking forward to building a relationship with XL Telecom & Energy Limited as well as expanding our presence in India."
"As we work to achieve our capacity expansion and growth goals to meet the increasing demands of the global photovoltaic market in the coming years, we are very pleased to have LDK Solar as a long-term partner and look forward to their supply, in order to secure an important part of our wafer needs," commented Dinesh Kumar, Managing Director and CEO of XL Telecom & Energy Limited.
About LDK Solar (NYSE: LDK - News)
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 XL Telecom & Energy Limited
XL Telecom & Energy Limited, a NSE and BSE listed Company with its headquarters out of Hyderabad, India, and is a leading Solar Exporter. XL is in the process of establishing its 120 MW Solar Cell manufacturing facility in Rajiv Gandhi Nano Technology Park SEZ, which is scheduled to commence its operations in Sep/Oct 2008. XL Telecom and Energy is a Rs.7 Billion Revenues company with its focus in Solar, Ethanol and Telecom segments and was established in 1985.