JA Solar to invest $947 million to develop two PV production plants

JA Solar Technology Co., a Chinese manufacturer of high-performance photovoltaic devices, is planning to invest $947 million (6.6 billion yuan) on the construction of two photovoltaic production facilities in Zhejiang, a province in eastern China. As per reports, one plant would generate 5 gigawatts of solar cells per year in Yiwu city, whereas the other plant would account for 10 gigawatts of PV panels. The renewable firm, as part of the investment, has also inked a framework deal with the management committee of a local industrial zone. Before this, JA Solar Technology, earlier named Tianye Tolian Heavy Industry Co., had bought JA Solar Holdings Co. to enable a backdoor listing of the solar manufacturer. It is among those photovoltaic producers including LONGi Green Energy Technology Co. and Tongwei Co. that are expanding their capacity to strengthen their business and cut costs. Sources close to the investment claim that the construction of this plant would take up to four years and would not impact JV Solar’s current annual revenue. Prior to this news, JA Solar Technology Co. had made headlines when it bagged the order for supplying high-efficiency modules to Huanghe Hydropowers 490MW ultra-high voltage (UHV) Transmission Project located in Qinghai. The project is also known as the world’s leading UHV demonstration bid that can scale up to 3.1GW. Sources close to the development state that the Chinese company would deliver its mono PERC 9BB half-cell bifacial double-glass modules, enabling the incorporation of the UHV power grid and advanced solar products. Speaking on the move, Mr. Jin Baofang, Chairman of the Board of Directors, JA Solar, said that Huanghe Hydropower Development Co., Ltd marks as the biggest comprehensive energy firm under the State Power Investment Co. The firm possesses 20-years of experience in the development and construction of photovoltaic power plants and has successfully continued a long-term cooperative relationship with the firm. Baofang added that the company is delighted to partner with Huanghe Hydropower and would maintain its partnership to advance the large-scale use of high-efficiency items, ensuring the industry meets the global grid parity. Source Credit: https://www.bloomberg.com/news/articles/2020-01-02/ja-solar-plans-947-million-cell-and-panel-production-plants