20 September 2010
LDK Solar Co., Ltd., a manufacturer of multicrystalline solar wafers and photovoltaic (PV) products, made two announcements today.
The company announced the signing of a memorandum of understanding (MOU) with the DOE’s National Renewable Energy Laboratory (NREL) for collaborative research and development (R&D) activities related to silicon materials and PV devices. The objectives for these collaborative activities are the investigation of silicon feedstock-related issues, development of standards for solar-grade silicon and evaluation methods, and research on crystallization technologies and commercial implementation. NREL is DOE’s primary laboratory for renewable energy and energy-efficiency R&D.
LDK Solar also announced that it has reached an agreement with Q-Cells SE to repay the loan extended to LDK Solar by Q-Cells in 2008 and to adjust the existing solar wafer supply contract. LDK Solar will repay the loan granted by Q-Cells, which currently stands at USD $224.9 million (approximately EUR €170 million), in its entirety by the end of 2011. The two companies also agreed to adjust the prices for the existing supply contract for solar wafers. Flexible prices will continue to apply for the term of the contract until 2018. These prices will be in line with market price and will be determined on a quarterly basis.