PVTIME – JA Solar Technology Co., Ltd. (hereinafter referred to as “JA Solar”, SZ 002459) continues to expand production as it announced plans of investing 10 billion yuan to establish in cell and module manufacturing projects inside the Yangzhou Economic and Technological Development Zone.
According to the announcement made on the evening of January 24, the proposed projects will be constructed in two phases. Phase I will utilize 6 billion yuan to establish 10GW in cell and 6GW in production capacity, including the previously approved “Yangzhou 6GW high-efficiency solar cell project” and the “Yangzhou 6GW high-power module project”. Aside from the investment total being 4 billion yuan, no other details were released about Phase II.
Construction of Phase I is slated to begin in 2021 and expected to be completed within three years; the second phase of the project will be negotiated separately according to the implementation of the first phase of the project, changes in the photovoltaic market, and the availability of supporting facilities. By the end of 2020, JA Solar’s silicon wafer and cell production capacity will reach 18 GW, and its module production capacity will reach 23 GW.
JA Solar said that the above-mentioned project investment agreement is in line with its strategic needs for future capacity planning, and is conducive to further expansion of its cell and module production capacity, and will enhance its vertically integrated capacity advantages.
As of January 25’s market’s closing, JA Solar’s stock price rose 1.94% to 42.1 yuan.