LDK Solar to Supply 850 Megawatts of Wafers to Gintech EnergyJustin Doom
LDK Solar Co., the Chinese solar manufacturer that defaulted on a bond that matured in February, agreed to provide 850 megawatts of wafers over four years to Gintech Energy Corp.
The company’s Jiangxi LDK Solar Hi-Tech unit will begin shipments this month, Xinyu, China-based LDK said today in a statement. Terms weren’t disclosed.
A majority of bondholders last month agreed to a restructuring deal after the company missed a semi-annual payment in August for its 1.7 billion yuan notes ($272 million) that matured Feb. 28.