SPI Solar Inc. won a contract to build a 9.7 megawatt solar farm from LDK Solar Co., a Chinese manufacturer of polysilicon wafers and modules, as part of an agreement between the companies.

A three-year accord between SPI, a photovoltaic solar developer, and KDC Solar LLC, a unit of Jiangxi, China-based LDK, announced in June, made SPI the preferred contractor for a minimum of 150 megawatts of projects. LDK agreed to provide as much as $750 million in financing for the ventures.

The first project under the pact will supply energy to the New Jersey headquarters of an international pharmaceuticals company, Roseville, California-based SPI said in a statement. LDK and Hong Kong-based GCL Poly Energy Holdings Ltd. are the world’s largest producers of solar wafers by capacity.

SPI has also won a contract to develop a 4.4 megawatt solar utility in Greece, selling power to Public Power Corp. SA, the country’s biggest electricity producer, it said. Construction of the park at Evros in northeastern Greece will begin in November. SPI plans to sell the venture while it’s being built or once it’s operating, the company said in a statement.

Source:bloomberg