LDK in new Taiwan wafer win
Troubled PV group LDK Solar struck its second wafer supply deal in less than a week with an 850MW order from Taiwan-based solar cell manufacturer Gintech Energy.
China-based LDK’s Jiangxi LDK Solar Hi-Tech subsidiary has started shipping the wafers and is expected to wrap up the order by March 2018. It did not disclose the terms of the deal.
It also recently announced plans to supply 765MW of wafers to Taiwan’s Solartech Energy between May 2014 and April 2017.
LDK, based in China’s Jiangxi province, is currently in provisional liquidation in the Cayman Islands to restructure roughly $2.5bn of debt. Its liquidators are now challenging a decision to halt trading of its shares on the New York Stock Exchange.
Last October, Gintech ended a long-term wafer supply arrangement with SunEdison’s Singapore unit. According to the deal, US-based SunEdison agreed to repay $35.1m of its deposit on the deal to Gintech, which is based in the city of Hsinchu.