LDK Solar Invests $33M In Solar Power Inc.

Chinese solar wafer manufacturer LDK Solar said this morning that it has acquired a 70% stake in Sunnyvale-based Solar Power, Inc., for approximately $33M. Solar Power Inc. is a manufacturer of photovoltaic solar power systems for the business, government, and utility market. The two firms said the investment would accelerate development of Solar Power Inc.'s project pipeline, which includes both utility scale power plans and commercial and industrial distributed systems.