LDK Solar Provides Update on China Development Bank Financing
Xinyu City, China, and Sunnyvale, California, January 4, 2012 – LDK Solar Co., Ltd. (“LDK Solar”; NYSE: LDK), a leading vertically integrated manufacturer of photovoltaic products, today announced that China Development Bank Corporation (“CDB”) has recently approved a fifteen-year project loan for two solar power plants with a total capacity of 8 Megawatts (“MW”) combined. The solar power plants are located in California and are wholly-owned by LDK Solar. CDB has also approved a fifteen-year buyer’s credit to KDC Solar LLC (“KDC”) for its two New Jersey solar power plants, Imclone and White Rose, consisting of 14.7 MW of its 300 MW portfolio. Additionally, CDB approved two-year construction financing to EPC contractor, Solar Power Inc. (“SPI”), a company majority owned by LDK Solar, for its undertaking of the New Jersey projects.