LDK to Buy PV Power Co for $33m

Solar wafer manufacturer LDK Solar (NYSE:LDK) has agreed to acquire a 70% stake in Solar Power, Inc. (SPI) for approximately $33 million, LDK announced January 6. SPI plans to use proceeds from the share sale to fund development of its utility-scale power plants and commercial/industrial distributed generation systems, the report said. LDK Solar will also purchase certain components of SPI's manufacturing equipment and assume total manufacturing control of SPI's former module manufacturing facility in Shenzhen, the report said.

On January 4, LDK announced it had signed buyers for an 18.5% stake in its polysilicon facility.