JA Solar Closed Its Equity Transfer of 3 PV Plants With RMB 289 Million

PVTIME – JA Solar, a leading manufacturer of high-performance photovoltaic products, announced that it has completed the sale of equity of its subsidiaries.

As early as the 28th meeting of the fifth board of JA Solar directors was held on December 9, 2021, the “Proposal on the Sale of Equity in Subsidiaries” was reviewed and approved.

According to the announcement, JA Solar would transfer 100% equity of Beitun Haitianda Photovoltaic Power Co., Ltd. With grid-connected capacity of 20MW PV station(s), 100 % equity of Hoboksar Mongol Autonomous County Haitianda Photovoltaic Power Generation Co., Ltd. with 30MW of grid-connected PV plant(s), and 100 % equity of Jiuzhou Fangyuan New Energy (Xinjiang) Co., Ltd. with 60MW of grid-connected PV plant(s), to CNNP Rich Energy Co., Ltd. at prices of 29 million yuan, 45 million yuan and 214.6 million yuan respectively.

JA Solar announced that it has completed the industrial and commercial registration alternation procedure for the above three companies recently. Upon the completion of the transfer, JA Solar will no longer hold the equity of the above three companies. At the same time, JA Solar took the total amount of loan principal and interest of RMB 794,960,500 that should be paid to it from the above three companies as subsidiary companies.