Sunnyvale, Calif. -- LDK Solar, a Chinese manufacturer of solar wafers and PV products, with U.S. headquarters in Sunnyvale, said on Thursday it has acquired a 70% stake in Roseville-based Solar Power Inc. (SPI) for approximately $33 million. LDK finalized the deal after initially paying $10 million in January. SPI designs, engineers and builds complete photovoltaic (PV) solar energy facilities. Xiaofeng Peng, the chairman and CEO of LDK Solar, said the acquisition provides the companies with "the opportunity to jointly explore opening manufacturing operations in the U.S. to further enhance SPI's competitive advantage in North America."
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