LDK Solar Co., Ltd. has expanded its annual photovoltaic cell capacity to 570 megawatts, having added a new manufacturing site in Hefei City, China.
Through the expansion, the company is hoping to enhance its vertical integration strategy. It adds that a total of 2,014 employees are now working there.
“We believe this increased capacity will enhance LDK Solar’s vertical integration strategy, and we expect our module manufacturing costs will be significantly reduced beginning in the second quarter of 2011,” stated Xiaofeng Peng, chairman and CEO of LDK Solar.
Last August, China Business news reported that LDK had started construction on a 1.5 gigawatt (GW) solar cell and module facility in the city. It is reportedly designed to have a total annualized capacity of one GW of crystalline-based solar cells and 500 megawatts of solar modules.
Meanwhile, last week, the company acquired a 70 percent stake in Solar Power, Inc. for approximately $33 million.
