JA Solar Reaches Supply Deal with MEMC

JA Solar Holdings Co. Ltd. has entered into a strategic multi-year supply agreement with MEMC Electronic Materials, Inc. Under the agreement, JA Solar will provide high performance solar modules beginning in the third quarter of 2010 and going through 2012.

“This supply agreement demonstrates JA Solar’s ability to work with solar industry leaders and create strategic partnerships in the global photovoltaic industry,” said Dr. Peng Fang, JA Solar’s CEO. “Our partnership with MEMC greatly enhances JA Solar’s position in the solar value chain, further diversifying our geographic presence and enhancing our order visibility, as well as providing us with access to its large project development pipeline. We look forward to building upon this agreement with MEMC to bring solar energy to the world.”

JA Solar also announced that it has entered into an agreement to acquire 100 percent of the shares of Shanghai Jinglong Solar Technology Co., Ltd. from Ningjin Jinglong PV Investment Co. Ltd. Shanghai Jinglong Solar Technology Co., Ltd. owns the land, building and facility currently being leased by JA Solar for its module production operation in Fengxian, Shanghai.

Through the acquisition, JA Solar would acquire approximately 206,590 square meters of land, 58,706 square meters of buildings and related facilities. Under the terms of the agreement, JA Solar will acquire Shanghai Jinglong Solar Technology Co., Ltd. for a cash consideration of US $29.3 million.

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