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
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
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Tina Davis, Will Wade