US based GT Equipment Technologies designs, manufactures, assembles, and installs turnkey manufacturing lines for all three stages of the photovoltaic manufacturing chain.
The $US33 million agreement with GT will allow Chinese power tool and elevator company Liouxin to diversify into providing solar power through its subsidiary LDK Solar Hi-Tech, manufacturing solar modules with the wafers.
“This is the largest contract in GT Equipment’s 11 year history,” said GT Equipment Technologies chairman Kedar Gupta.
“It will provide LDK Solar with the ability to manufacture and sell solar wafers in the major market of China where the demand for energy resources is growing at a fast clip.”
The agreement underlines a need for renewable energy manufacturing resources to accommodate the Chinese Government’s attempts to balance an exponential growth in power demand with a sustainable future.
LDK has also said that it expects to double its solar wafer capacity with GT Equipment by October 2005, reaching 200MW by the beginning of 2007.
