LDK to develop solar projects with China's Suqian city

(Reuters) - LDK Solar Co Ltd on Monday said it agreed with the Chinese city of Suqian to develop up to 300 megawatts (MW) of photovoltaic solar projects by 2015.

Last week, the solar company said it was partnering with Yancheng city to build up to 500 MW of photovoltaic solar power projects over the next five years.

The news comes as China -- the world’s top greenhouse gas polluter -- tries to catch up in a global race to find alternatives to fossil fuels. Last month, the country launched a long-awaited plan to offer subsidies for large solar power projects.

Since China announced the incentive, domestic solar power producers including Suntech Power Holdings Co Ltd and ReneSola Ltd have announced plans to build big solar power plants in China.

LDK shares closed at $9.24 Friday on the New York Stock Exchange.

Reporting by Adveith Nair in Bangalore; Editing by Aradhana Aravindan