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LDK Solar to Provide Modules for Net-Metered System

Source: www.gulfoilandgas.com 8/2/2011, Location: North America

LDK Solar Co., Ltd. (LDK Solar), a leading vertically integrated manufacturer of photovoltaic products, announced that the Company has signed an agreement with Advanced Solar Products, of Flemington, New Jersey, to supply 58,803 PV modules for the largest privately-owned, net-metered solar project in the Western Hemisphere at the East Windsor, New Jersey campus of The McGraw-Hill Companies (the McGraw-Hill project).

Advanced Solar Products will install a 14.1 Megawatt (MW) state-of-the-art, ground-mounted system, using Advanced Solar Products’ patented Solstice Mounting System. The Solstice Mounting System and the McGraw-Hill project have been approved by New Jersey’s Renewable Energy Manufacturing Incentive (NJREMI) program, which provides rebates to New Jersey residents, businesses, local governments, and non-profit organizations that purchase and install solar panels, inverters, and racking systems manufactured in New Jersey. NJR Clean Energy Ventures (NJRCEV), a subsidiary of New Jersey Resources, plans to invest $60 million to develop and install the system. The clean, renewable energy produced by the project is expected to reduce the equivalent of about 10 percent of McGraw-Hill's annual carbon emissions. According to the terms of the project, all panels will be delivered by November 2011. Construction on the project commenced July 22, 2011 and the system is expected to be fully operational by the spring of 2012.

“LDK Solar is very pleased to have been selected by Advanced Solar Products to provide the modules for this groundbreaking project,” stated Xiaofeng Peng, Chairman and CEO of LDK Solar. “We look forward to partnering with Advanced Solar, McGraw-Hill, NJR Clean Energy Ventures, the State of New Jersey and the other organizations involved. “LDK Solar has recently invested in the establishment of a U.S. based sales and marketing operation in Silicon Valley, California. A project of this magnitude represents a tremendous opportunity to further expand our North America presence. We applaud McGraw-Hill’s commitment to renewable energy and look forward to helping bring this project to completion,” concluded Mr. Peng.

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