Solar Power Inc. to Develop 19 Megawatts of Capacity in Shandong

Sept. 19 (Bloomberg) — Solar Power Inc., a renewable-energy developer backed by China’s LDK Solar Co., has agreed to
build 19 megawatts of solar project capacity in Shandong
Province.

The company’s Xinyu Xinwei New Energy unit will build four
rooftop systems — two at 5 megawatts, two at 4.5 megawatts —
beginning this month, Roseville, California-based Solar Power
said yesterday in a statement. Construction is expected to be
completed this year.

Solar Power is buying a special purpose vehicle that owns
the rights to the projects. Financial terms weren’t disclosed.
The company received preliminary approval on Aug. 26 to build 10
megawatts of solar in China’s Shandong.

LDK, which defaulted on a bond that matured in February,
owned 42 percent of Solar Power as of Aug. 19, according to a
company filing.

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
Tina Davis, Will Wade

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