Will LDK Solar be China's first major solar bankruptcy?

China also eats its own.

 

Will LDK Solar be China's first major solar bankruptcy?

31.05.2012: According to Renewable Energy World, which cites “industry observers within China,” Chinese solar wafer producer LDK Solar Co. could be the first major Chinese solar manufacturer to go bust. According to the article, LDK is under considerable financial pressure due to $6 billion in debt and hefty annual interest payments exceeding $200 million. In the fourth quarter of 2011, LDK recorded a net loss of $588.7 million, down sharply from a net profit of $145.2 million in the fourth quarter of 2010. It was the company’s third consecutive quarterly loss. Meanwhile, revenue fell from $920.9 million in the fourth quarter of 2010 to $420.2 million in the fourth quarter of last year. LDK shares are currently trading on the New York Stock Exchange at about $1.80, down from over $3.00 a week ago and $7.59 a year ago. ... Source: Renewable Energy World; Summary: PHOTON http://www.renewableenergyworld.com http://www.renewableenergyworld.com/rea/news/article/2012/05/bankruptc y-fears-for-chinas-ldk-solar-due-to-market-downturn

 

 

Monty Bannerman

ArcStar Energy

646.402.5076

www.arcstarenergy.com