XINYU CITY, China (AP) -- LDK Solar Co. said on Tuesday it will supply solar wafers to its corporate cousin Best Solar Co., which will make solar modules, for solar projects.
Xinyu City, China-based LDK said that although it has established a solar engineering company to build solar power stations, it has not yet done work such as solar cell or module manufacturing, solar panel assembly, or providing some solar utility services. Meanwhile, Best Solar is a large maker of solar modules and also has product certifications in several jurisdictions, LDK said.
Best Solar is owned by LDK New Energy Holding Ltd, which is LDK Solar's controlling shareholder. LDK Solar said Best Solar would price its manufacturing similarly to independent third parties.
LDK Solar Co. shares rose 26 cents, or 3 percent, to $9.21 in midday trading.