[odyd 1,340]

I like to see my predictions to take on life. We have a second company now Sunergy to have 100MW of cell and module processing in Istanbul, Turkey from Shanghai. This is really cool. I read interview with Xianshou, from ReneSola, and they talk about factory in Europe. Everyone is doing EPC, second to get global. I have a feeling things are about to turn the corner.

[odyd 1,340]

434M of debt paid off. using 367M of cash. I am impressed with all Chinese companies reducing their debt this Q. The 18 (no GCL this quarter) not having Suntech and Hanwha reports, reduction of $4B in debt, versus 2B in cash, so cash flows are churning funds.

[odyd 1,340]

https://solarpvinvestor.com/tech-news/390-suntech-siemens-and-mainstream-renewable-power-collaborate-on-100mw-of-solar-projects-in-south-africa

[odyd 1,340]

If they get this approved, than money is flowing freely again. That would be the sign that things are coming to a different stage (EPC growth). I think things will be blooming in 2013.

[explo 648]

For 2012 to 2014 were 443M in LDK's latest 20-F. When I read that I thought that's not good considering they can't utilize the 4.3GW wafer equipment they have. Here's from the 2011AR 20-F filing: "The $443.0 million of non-cancelable purchase obligations relating to equipment in the above table included an aggregate amount of $154.6 million, $66.0 million and $38.0 million in purchase obligations to JYT Corporation for pullers, Applied Materials for wire saws and Tokyo Rope for wire saws, respectively, to be delivered in 2012 and 2013 and 2014." And here's a PR today that you could expect from that: http://finance.yahoo.com/news/ldk-solar-announces-arbitration-ruling-081500914.html Some people got hubris during the shiny days. Again I cannot believe JASO's commitment to Hefei city to build 3GW integrated wafer to module there. They have 187M non-cancelable capex commitments, but have close to 2 billion purchase commitments under take or pay agreement (GCL negotiated well?). JASO seems to committed in this changing industry.

[odyd 1,340]

$18M it seems, I missed this news, Suntech did not announce it. http://www.pv-tech.org/news/suntech_sued_by_schott_solar_wafer

[Guest larryvand]

Odyd is showing LDK polysilicon for 2012 25,000MT and for 2013 55,000 MT. Is that correct??? Is LDK really going to bring online 30,000 MT in 2013??? I find that hard to believe.

[odyd 1,340]

This is old times data. No longer applies imho, but company never changed that, so it is staying for now.

[explo 648]

From 2011 20-F: "Inner Mongolia Polysilicon Manufacturing Facility. In September 2011, we entered into a framework cooperation agreement with the Municipal Government of Hohhot, capital of Inner Mongolia Autonomous Region, China, with regard to the construction and development of a proposed polysilicon manufacturing facility in Jinsan Development Zone to produce high-purity polysilicon. As planned, the Hohhot facility will have two phases, each an annualized polysilicon production capacity of 30,000 MT. The framework cooperation agreement, except for certain confidentiality terms, is not legally binding, and only memorializes mutual understandings by both sides. Although we have completed basic engineering and design of the project, the commencement of the construction work is subject to final approvals from relevant NDRC and local government authorities." We can assume that they are deferring this. They've also previously annouced expansion plans into sapphire wafer and silane gas manufacturing, which they both officially delayed with intention to resume when market is better. Now they have to handle all equipment purchase obligations made when they thought they could grow much fasters. Just the obligation against JYT costed them $47M to get out - a very significant portion of the obligation.

[explo 648]

Starting production in Turkey this month: http://www.pv-magazine.com/news/details/beitrag/china-sunergy-begins-manufacturing-in-turkey_100009880/#axzz2IErB2Jn0