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Date Announced: 07 Mar 2011
JV Will Have Initial Solar Cell Capacity of 250MW.
SHANGHAI and ST. PETERS, Mo., March 7, 2011 (GLOBE NEWSWIRE) -- JA Solar Holdings Co., Ltd. (Nasdaq:JASO - News) ("JA Solar") and MEMC Electronic Materials, Inc. (NYSE:WFR - News) ("MEMC") today announced a joint venture agreement between JA Solar and MEMC's affiliate, MEMC Singapore, to build and operate a solar cell production facility in China. In Phase One of the project, the joint venture will build a production facility with a capacity of 250 megawatts (MW) of photovoltaic (PV) cells.
The Phase One production facility will be located at JA Solar's Yangzhou site, and is expected to begin commercial production in the second half of 2011. In later phases, total production capacity may be expanded up to 1GW. The joint venture will be a 50/50 partnership between JA Solar and MEMC Singapore.
"We are delighted to embark on this exciting initiative with MEMC, and to continue our successful approach to partnering with the world's leading solar companies," said Dr. Peng Fang, CEO of JA Solar. "This milestone agreement is further proof of the success of our focus on being the leading provider of value-added tolling technology and production solutions. By choosing to partner with JA Solar, we believe that MEMC recognizes the value we offer, and the support we provide to our partners' growth strategies. We expect that this alliance will further enhance the sustainability and profitability of our business over the long term."
Ken Hannah, President of MEMC Solar Materials, commented, "Building on our several years of successful strategic cooperation, JA Solar was an ideal choice as our partner for this project. With its manufacturing capability, industry-leading cost structure and clear understanding of MEMC's business objectives, I'm confident that JA Solar will play a vital role in the success of this joint-venture."
Source: MEMC
E-mail: see web site
Web Site: www.memc.com
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