Oct. 23 (Bloomberg) — Solar Power Inc., a renewable-energy
developer backed by LDK Solar Co., and Guodian Technology &
Environment Group have agreed to develop at least 1.5 gigawatts
of capacity in China.
As part of the agreement, Solar Power will buy 160
megawatts of photovoltaic capacity from affiliates of Guodian
Technology’s GD Solar unit for 1.575 billion yuan ($257
million), according to a statement today.
The companies will develop 500 megawatts each year from
2015 through 2017. Solar Power will provide financing and hold
equity stakes in the projects, which GD Solar will build.
LDK owned 42 percent of Roseville, California-based Solar
Power as of Aug. 19, according to a company filing.
Solar Power rose 13 percent to $2.65 at the close in New
York.
(A previous version of this story corrected currency
denomination in second paragraph.)
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Justin Doom in New York at
To contact the editors responsible for this story:
Reed Landberg at
Robin Saponar