GT Solar Sells New 75 MW Solar Plant to China

China’s ballooning energy needs, strong manufacturing base and the Chinese government’s new renewable energy policies are just some of the factors behind a new 75 MW solar manufacturing agreement.

New Hampshire-based GT Solar, a division of GT Equipment Technologies, entered into an agreement with LDK Solar Hi-Tech of Jiangxi, China, of more than USD $33 million to create a 75 MW solar photovoltaic (PV) wafer fabrication line for the manufacturing of solar energy modules. “This is the largest contract in GT Equipment’s 11-year history,” said GT Equipment Technologies’ Chairman and CEO, Kedar Gupta. “It will provide LDK Solar with the ability to manufacture and sell solar wafers in the major market of China where the demand for energy resources is growing at a fast clip.” LDK Solar expects to double its solar wafer capacity with GT Equipment by October of 2005, reaching 200 MW by the end of 2006. “We are enthusiastic about our relationship with GT Equipment Technologies, and about the opportunity we have to manufacture solar wafers for distribution in China and worldwide,” said Light DK Peng, President of LDK Solar, who traveled to Merrimack, NH, for this announcement. GT Equipment Technologies was recently named by the Export-Import Bank of the United States as “Environmental Exporter of the Year” in the U.S.
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