JA Solar to Supply 70 MW of Modules to Shanghai CSET in China
SHANGHAI, China, Nov. 11, 2013 (GLOBE NEWSWIRE) -- JA Solar Holdings Co., Ltd.
(Nasdaq:JASO) ("JA Solar" or the "Company"), one of the world's largest
manufacturers of high-performance solar power products, today announced that
it has signed two agreements to supply a total of 70 MW of high-efficiency
polycrystalline solar modules to Shanghai CSET Co., Ltd., a photovoltaic
("PV") system integrator focused on the planning, design and operation of
solar PV stations, for two commercial rooftop projects in China.
According to the agreements, 20 MW of modules will be delivered in December
2013, and 50 MW will be delivered in the first quarter of 2014. The projects
will utilize JA Solar's high-efficiency polycrystalline modules with an
average power output of between 255 W and 260 W in a 60-cell format, which are
among the most powerful modules of their kind on the market. The contract
amount will be paid in full prior to delivery.
"This agreement is another sign of improving industry fundamentals and strong
demand from the China market, which is expected to continue to grow rapidly in
the next few years," said Mr. Baofang Jin, executive chairman and CEO of JA
Solar. "JA Solar's superior product offerings and our strong relationships
with project developers in China ensure we are well positioned to benefit from
This press release contains forward-looking statements. These statements
constitute "forward-looking" statements within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended, and as defined in the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking statements can
be identified by words such as "may," "expect," "anticipate," "aim," "intend,"
"plan," "believe," "estimate," "potential," "continue," and other similar
statements. Statements other than statements of historical facts in this
announcement are forward-looking statements, including but not limited to, our
expectations regarding the expansion of our manufacturing capacities, our
future business development, and our beliefs regarding our production output
and production outlook. These forward-looking statements involve known and
unknown risks and uncertainties and are based on current expectations,
assumptions, estimates and projections about the Company and the industry.
Further information regarding these and other risks is included in Form 20-F
and other documents filed with the Securities and Exchange Commission. The
Company undertakes no obligation to update forward-looking statements, except
as may be required by law. Although the Company believes that the expectations
expressed in these forward-looking statements are reasonable, it cannot assure
you that its expectations will turn out to be correct, and investors are
cautioned that actual results may differ materially from the anticipated
About JA Solar Holdings Co., Ltd.
JA Solar Holdings Co., Ltd. is a leading manufacturer of high-performance
solar power products that convert sunlight into electricity for residential,
commercial, and utility-scale power generation. The Company is one of the
world's largest producers of solar power products. Its standard and
high-efficiency product offerings are among the most powerful and
cost-effective in the industry. The Company distributes products under its own
brand and also produces on behalf of its clients. The Company shipped 1.7 GW
of solar power products in 2012. JA Solar is headquartered in Shanghai, China,
and maintains production facilities in Shanghai, as well as Hebei, Jiangsu and
Anhui provinces. For more information, please visit www.jasolar.com.
About Shanghai CSET
Shanghai CSET Co., Ltd. is a PV system integrator focused on the planning,
design and operation of solar PV stations. It offers integrated services
including equipment manufacturing, project contracting, and pre- and post-sale
services. Shanghai CSET aims to provide its customers with high-quality PV
products and integrated PV system solutions. For more information, please
CONTACT: JA Solar Contact:
In the U.S.
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