LDK Solar Co., Ltd. (NYSE:LDK), a leading manufacturer of multicrystalline solar wafers, Tuesday announced the acquisition of a controlling interest of Solar Green Technology S.p.A. (SGT), a system integrator in the Italian market.
LDK Solar acquired 70% of Solar Green Technology S.p.A’s shares. Financial terms were not disclosed.
The investment is expected to boost LDK Solar’s efforts to develop additional projects and strengthen its presence in the Italian PV sector. SGT will provide project opportunities and technical support in terms of realization and control of PV turnkey plants to LDK Solar.
"We believe access to SGT’s wealth of resources will be an effective and immediate tool for LDK Solar efforts in managing development activity in the Italian PV market, which is currently one of the most dynamic and profitable European markets," stated Xiaofeng Peng, Chairman and CEO of LDK Solar.
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