LDK set to treble polysilicon capacity as price plunges

Chinese solar company LDK Solar aims to treble its polysilicon production capacity by 2014 – even as the sector faces plunging prices amid global oversupply.

The company has unveiled plans to build a new 30,000 tonne plant in Hohhot, Inner Mongolia, meaning LDK's total production capacity is set to reach 55,000 tonnes by the end of 2013.

The announcement came as prices for polysilicon – the key raw material in most PV modules – hit an eight-year low, as European demand remained weaker than expected for an industry already facing oversupply.

Polysilicon sold on the spot market fell to $34.51/kg in the week to 31 October, according to figures from Bloomberg New Energy Finance.

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