XINYU CITY, China and
SUNNYVALE, Calif., Aug. 2, 2011 /PRNewswire/ -- LDK Solar Co., Ltd.
("LDK Solar") (NYSE: LDK), a leading vertically integrated
manufacturer of photovoltaic products, today announced that the
Company has signed an agreement with Advanced Solar Products, of
Flemington, New Jersey, to supply
58,803 PV modules for the largest privately-owned, net-metered
solar project in the Western Hemisphere at the East Windsor, New Jersey campus of The
McGraw-Hill Companies ("the McGraw-Hill project").
Advanced Solar Products will install a 14.1 Megawatt (MW)
state-of-the-art, ground-mounted system, using Advanced Solar
Products' patented Solstice Mounting System. The Solstice
Mounting System and the McGraw-Hill project have been approved by
New Jersey's Renewable Energy
Manufacturing Incentive (NJREMI) program, which provides rebates to
New Jersey residents, businesses,
local governments, and non-profit organizations that purchase and
install solar panels, inverters, and racking systems manufactured
in New Jersey.
NJR Clean Energy Ventures (NJRCEV), a subsidiary of New Jersey
Resources (NYSE: NJR), plans to invest $60
million to develop and install the system. The clean,
renewable energy produced by the project is expected to reduce the
equivalent of about 10 percent of McGraw-Hill's annual carbon
emissions.
According to the terms of the project, all panels will be
delivered by November 2011.
Construction on the project commenced July 22, 2011 and the system is expected to be
fully operational by the spring of 2012.
"LDK Solar is very pleased to have been selected by Advanced
Solar Products to provide the modules for this groundbreaking
project," stated Xiaofeng Peng,
Chairman and CEO of LDK Solar. "We look forward to partnering
with Advanced Solar, McGraw-Hill, NJR Clean Energy Ventures, the
State of New Jersey and the other
organizations involved.
"LDK Solar has recently invested in the establishment of a U.S.
based sales and marketing operation in Silicon Valley, California. A project of this magnitude
represents a tremendous opportunity to further expand our
North America presence. We
applaud McGraw-Hill's commitment to renewable energy and look
forward to helping bring this project to completion," concluded Mr.
Peng.
About Advanced Solar Products:
Since 1991, Advanced Solar Products (ASP) has been the region's
premier engineering and construction firm in the field of solar
energy and sustainable technologies, including their proprietary
Solstice ® Mounting System. Principals of the firm have been
New Jersey leaders in developing
renewable energy policy and promoting "green" (LEED)
construction.
ASP's experienced engineering team has designed and installed
Photovoltaic (PV) systems for New
Jersey public schools, municipalities, commercial buildings,
farms and major utilities. ASP personnel have over 100 years
collective experience in renewable energy. ASP provides
turnkey design-build service, and has installed over 29 megawatts
of ground and roof-mounted PV systems ranging in size from under 10
kilowatts to over 3 megawatts.
www.advancedsolarproducts.com
About LDK Solar (NYSE: LDK)
LDK Solar Co., Ltd. (NYSE: LDK) is a leading vertically
integrated manufacturer of photovoltaic (PV) products. LDK Solar
manufactures polysilicon, mono and multicrystalline ingots, wafers,
cells, modules, systems, power projects and solutions. LDK Solar's
headquarters and principal manufacturing facilities are located in
Hi-Tech Industrial Park, Xinyu City, Jiangxi Province in the People's Republic of China. LDK Solar's
office in the United States is
located in Sunnyvale, California.
For more information about LDK Solar and its products, please visit
www.ldksolar.com.
Safe Harbor Statement for LDK Solar
This press release contains forward-looking statements within
the meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. All statements other than statements
of historical fact in this press release are forward-looking
statements, including but not limited to, LDK Solar's ability to
raise additional capital to finance its operating activities, the
effectiveness, profitability and marketability of its products, the
future trading of its securities, the ability of LDK Solar to
operate as a public company, the period of time during which its
current liquidity will enable LDK Solar to fund its operations, its
ability to protect its proprietary information, the general
economic and business environment and conditions, the volatility of
LDK Solar's operating results and financial condition, its ability
to attract and retain qualified senior management personnel and
research and development staff, its ability to timely and
efficiently complete its ongoing projects, and other risks and
uncertainties disclosed in LDK Solar's filings with the Securities
and Exchange Commission. These forward-looking statements involve
known and unknown risks and uncertainties and are based on
information available to LDK Solar's management as of the date
hereof and on its current expectations, assumptions, estimates and
projections about LDK Solar and the PV industry. Actual results may
differ materially from the anticipated results because of such and
other risks and uncertainties. LDK Solar undertakes no obligation
to update forward-looking statements to reflect subsequent events
or circumstances, or changes in its expectations, assumptions,
estimates and projections except as may be required by law.
SOURCE LDK Solar Co., Ltd.