Solar Power Inc. to Develop 19 Megawatts of Capacity in Shandong

Sept. 19 (Bloomberg) — Solar Power Inc., a renewable-energy developer backed by China’s LDK Solar Co., has agreed to
build 19 megawatts of solar project capacity in Shandong

The company’s Xinyu Xinwei New Energy unit will build four
rooftop systems — two at 5 megawatts, two at 4.5 megawatts —
beginning this month, Roseville, California-based Solar Power
said yesterday in a statement. Construction is expected to be
completed this year.

Solar Power is buying a special purpose vehicle that owns
the rights to the projects. Financial terms weren’t disclosed.
The company received preliminary approval on Aug. 26 to build 10
megawatts of solar in China’s Shandong.

LDK, which defaulted on a bond that matured in February,
owned 42 percent of Solar Power as of Aug. 19, according to a
company filing.

To contact the reporter on this story:
Justin Doom in New York at

To contact the editors responsible for this story:
Reed Landberg at
Tina Davis, Will Wade

About BloombergNEF

BloombergNEF (BNEF), Bloomberg’s primary research service, covers clean energy, advanced transport, digital industry, innovative materials and commodities. We help corporate strategy, finance and policy professionals navigate change and generate opportunities.

Available online, on mobile and on the Terminal, BNEF is powered by Bloomberg’s global network of 19,000 employees in 176 locations, reporting 5,000 news stories a day.
Sign up for our free weekly newsletter →

Want to learn how we help our clients put it all together? Contact us