Energy

LDK Solar Chalks Up A Win In Italy (LDK)

LDK Solar Co., Ltd. (NYSE: LDK) has signed a new agreement with SAEM Srl, a primary system integrator within the PV sector, to build five one-megawatt PV plants in the Apulia region of Italy.  Construction will start in July and…

By Douglas A. McIntyre
Published July 1, 2009, 7:44am ET · 1 min read

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LDK Solar Co., Ltd. (NYSE: LDK) has signed a new agreement with SAEM Srl, a primary system integrator within the PV sector, to build five one-megawatt PV plants in the Apulia region of Italy.  Construction will start in July and should be completed by November of this year. Under the pact, LDK Solar will supply wafers for the PV project and SAEM will be responsible for the engineering, procurement, and construction services and system integration.

The company’s CEO noted that the Italian solar market is expected to grow significantly over the next three years.  We did not see any financial terms in this pact.  Back in early June, the company warned of lower margins but said it was increasing polysilicon production by end of the third quarter.

LDK closed at $11.28 yesterday, and shares are indicated up almost 2% at $11.46 in thin pre-market trading.  Its 52-week trading range is $3.75 to $52.40.

Jon C. Ogg
July 1, 2009

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Douglas A. McIntyre

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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