LDK Solar Sets up Venture with State Coal Producer

(Beijing) – Debt-ridden solar equipment maker Jiangxi LDK Solar Hi-Tech Co. has partnered with a subsidiary of state-owned coal producer China Pingmei Shenma Group to develop photovoltaic projects in Henan Province.

LDK and Pingdingshan Yicheng New Material Co. set up a joint venture to engage in photovoltaic development, a company statement published on November 1 said. The two companies did not disclose information about shareholding structure.