XINYU CITY, China and SUNNYVALE, Calif., April 2, 2008/PRNewswire-FirstCall/ -- LDK Solar Co., Ltd. (NYSE: LDK), a leadingmanufacturer of multicrystalline solar wafers, today announced that it hassigned a ten-year contract which is a blend of 'Take or Pay' linked withmarket-based pricing to supply multicrystalline solar wafers to India-basedMoser Baer Photo Voltaic Limited (MBPV), a subsidiary of Moser Baer IndiaLimited (MBI).
Under the terms of the agreement, LDK Solar will deliver 640 MW ofmulticrystalline solar wafers to MBPV over a ten-year period commencing in mid2008 through 2017. MBPV will make a suitable advance payment reflecting thecontract value to LDK Solar.
'The supply agreement with Moser Baer reflects the strong interest wecontinue to encounter for our high quality solar wafers,' stated Xiaofeng Peng,Chairman and CEO. 'We are excited to extend our business into an emergingmarket such as India, as we continue to diversify our market coverage and growour customer list.'
'We are very pleased to enter into this mutually equitable agreement withLDK Solar to secure quality solar wafers,' commented Ravi Khanna, ChiefExecutive, Moser Baer Photo Voltaic Limited. 'We look forward to a long-termrelationship with LDK Solar as we work towards rapidly increasing our scale ofoperations and capacity to assume leadership position.'
About LDK Solar
LDK Solar Co., Ltd. is a leading manufacturer of multicrystalline solarwafers, which are the principal raw material used to produce solar cells. LDKsells multicrystalline wafers globally to manufacturers of photovoltaicproducts, including solar cells and solar modules. In addition, the Companyprovides wafer processing services to monocrystalline and multicrystallinesolar cell and module manufacturers. LDK's headquarters and manufacturingfacilities are located in Hi-Tech Industrial Park, Xinyu City, Jiangxiprovince in the People's Republic of China. The Company's office in the UnitedStates is located in Sunnyvale, California.
About Moser Baer Photo Voltaic Ltd.
Moser Baer Photo Voltaic incorporated in New Delhi, a wholly ownedsubsidiary of Moser Baer India Ltd, in the business of photovoltaic (PV) cellsand modules. MBPV plans to manufacture solar cells and modules by straddlingmultiple technologies including crystalline silicon, concentration, nanotechnology and thin films. The manufacturing facilities are housed in arenewable energy SEZ at Greater Noida.
