News | Energy Efficiency

http://www.newenergyworldnetwork.com/renewable-energy-news/by-technology/solar/ldk-solar-launches-solar-cell-factory-in-china.html

Solar manufacturer LDK Solar has launched a new solar cell manufacturing base in China’s Anhui Province that looks set to boost its production after it achieved record revenues in the fourth quarter of 2010.

The facility in Hefei City brings the NYSE-listed company’s cell manufacturing capacity up to 570MW per year and adds 2,014 new employees to its team.
While LDK’s headquarters and manufacturing facilities are predominantly located in China, it also has a sales base in the US state of California. The company recently acquired a controlling interest in photovoltaic solar developer Solar Power in a deal that the company said will advance the development of its solar project pipeline.
After achieving sales revenue of $920m in the previous quarter, topping analysts’ estimates, LDK Solar has forecast sales of between $800m and $850m for the first quarter of 2011.
Xiaofeng Peng, chairman and CEO of LDK Solar, said, ‘We believe this increased capacity will enhance LDK Solar’s vertical integration strategy, and we expect our module manufacturing costs will be significantly reduced beginning in the second quarter of 2011.’