LDK Solar Signs 10 Year Contract for 640 MW
In the "sometimes better to be lucky than good (but preferable to be both?) camp", an hour after I buffed up the
LDK Solar (LDK) position (
Adding some LDK Solar as a "Hey You Forgot Me" Play) we have another
10 year contract for 640 MW. A nice prepayment to
LDK Solar to boot.
Western Europe, Japan, the Middle East, now India... meanwhile the US Congress continues to subsidize oil companies and laugh off solar... we continue to fall behind the global competition by the day. At least California is trying...
Judging by the nearly 10% move after hours in this name, my "breakout" target of $31 appears in the bag.... I will be adding first thing tomorrow morning on this price action... should bode well for the entire sector...
I've added today in the $29s and taken the exposure back up to 1.2%. A move above $31, and I'll add in size. - LDK Solar Co., Ltd. (NYSE: LDK), a leading manufacturer of multicrystalline solar wafers, today announced that it has signed a ten-year contract which is a blend of "Take or Pay" linked with market-based pricing to supply multicrystalline solar wafers to India-based Moser Baer Photo Voltaic Limited (MBPV), a subsidiary of Moser Baer India Limited (MBI).
- Under the terms of the agreement, LDK Solar will deliver 640 MW of multicrystalline solar wafers to MBPV over a ten-year period commencing in mid 2008 through 2017. MBPV will make a suitable advance payment reflecting the contract value to LDK Solar.
- "The supply agreement with Moser Baer reflects the strong interest we continue to encounter for our high quality solar wafers," stated Xiaofeng Peng, Chairman and CEO. "We are excited to extend our business into an emerging market such as India, as we continue to diversify our market coverage and grow our customer list."
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