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China's solar panel seeking revival in domestic market (2)


09:43, November 28, 2012

The company had seven more production lines resuming operations in November.

LDK Solar chose to sell 19.9 percent of its shares to a state-backed company on Oct. 19, which generated an immediate 23 million U.S dollars, said Tong.

The company's active response to overcome the export crisis has effectively boosted investors' confidence on its stocks.

LDK Solar saw a 25 percent share price jump the day after its new funding source.

The company also gained 70.4 million U.S. dollars as compensation by suspending long-term agreements providing solar wafers for its European customers and Japanese customer Sumitomo.

Tong said the price of solar PV products has bottomed out and China's domestic solar panel market will see at least a 30 percent surge in the future, with the momentum of building PV power stations.

According to a report released by the National Energy Administration in August, China will have 21 million kilowatts of installed solar power generation capacity by 2015, which will be six times more than currently.

The administration also asked local authorities to make plans for establishing distributed photovoltaic generation demonstration centers to boost the domestic solar industry.

According to the requirement, each provincial-level region may apply to establish no more than three solar energy demonstration areas with a total installed capacity not exceeding 500,000 kilowatts.

The building cost of China's distributed solar power stations now stands at 7 to 8 yuan per kilowatt-hour, which means these small-scale solar power stations can recover their costs within 3-4 years of operation in solar resource rich regions.

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