Solar Power Inc., Guodian to Develop 1.5 Gigawatts in China

Oct. 23 (Bloomberg) — Solar Power Inc., a renewable-energy

developer backed by LDK Solar Co., and Guodian Technology &

Environment Group have agreed to develop at least 1.5 gigawatts

of capacity in China.

As part of the agreement, Solar Power will buy 160

megawatts of photovoltaic capacity from affiliates of Guodian

Technology’s GD Solar unit for 1.575 billion yuan ($257

million), according to a statement today.

The companies will develop 500 megawatts each year from

2015 through 2017. Solar Power will provide financing and hold

equity stakes in the projects, which GD Solar will build.

LDK owned 42 percent of Roseville, California-based Solar

Power as of Aug. 19, according to a company filing.

Solar Power rose 13 percent to $2.65 at the close in New

York.

(A previous version of this story corrected currency

denomination in second paragraph.)

To contact the reporter on this story:

Justin Doom in New York at

jdoom1@bloomberg.net

To contact the editors responsible for this story:

Reed Landberg at

landberg@bloomberg.net

Robin Saponar

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