Solar Power Inc. to Develop 20-Megawatt Plant in Inner Mongolia

(Bloomberg) — Solar Power Inc., a renewable-energy
developer backed by China’s LDK Solar Co., agreed to build a 20-megawatt power plant in China’s Inner Mongolia region for
Jingzhaolai PV Power Co.

Construction on the facility in Liangcheng County, about
450 kilometers (280 miles) west of Beijing, is set to begin next
month with operations expected in June, Shanghai-based Solar
Power said in a statement Monday. Terms weren’t disclosed.

China’s National Energy Administration is seeking to
install almost 18 gigawatts of solar capacity this year, up from
an earlier target of 15 gigawatts.

“We are confident that SPI will benefit significantly from
these positive macro trends,” Peng Xiaofeng, chairman of SPI
and founder of LDK, said in the statement.

Global solar installations this year are expected to rise
as much as 29 percent to 58 gigawatts, according to Bloomberg
New Energy Finance.

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
Will Wade, Randall Hackley

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