Chinese solar firm LDK Solar Co Ltd (LDK.N) agreed to acquire a 70 percent stake in U.S.-based Solar Power Inc (SOPW.OB) for about $33 million to enhance module supply for its large-scale projects. LDK, whose photovoltaic products are used in solar power panels, said it will also purchase certain components of Solar Power's manufacturing equipment and assume control of the module-manufacturing plant in Shenzhen, China. "This transaction also expands our downstream vertical integration opportunities and provides LDK Solar and SPI the opportunity to jointly explore opening manufacturing operations in the U.S.," LDK said in a statement.
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