JA Solar Commences Large-Volume Module Shipments From Bids Totaling 70MW With China Guangdong Nuclear Solar Energy
SHANGHAI, China, Sept. 26, 2012 (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 commenced solar module shipments from successful bids totaling 70MW with China Guangdong Nuclear Solar Energy Development Co., Ltd. ("CGN"). The Company has signed supply agreements with subsidiaries of CGN for an initial 30MW of modules, delivery of which is expected to be completed by the end of 2012. The modules will be used in projects in China's Qinghai and Xinjiang provinces. JA Solar's (JASO) total of 70MW in successful bids makes it the largest single bid winner in a 150MW tender offered by CGN.
Dr. Peng Fang, CEO of JA Solar, said, "This cooperation with CGN, one of China's largest utility companies, is yet another clear sign that project developers in China increasingly recognize JA Solar for the reliability and affordability of our world-class product offering. Combined with our stable financial position, this forms a solid foundation for JA Solar's continued long-term growth in this promising market."
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, or furnished to, 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 results.
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 cells. Its standard and high-efficiency product offerings are among the most powerful and cost-effective in the industry. The Company also produces solar modules which it distributes under its own brand and produces on behalf of solar manufacturers globally. The Company shipped 1.69GW of solar power products in 2011. JA Solar is headquartered in Shanghai, China, and maintains production facilities in Shanghai, as well as Hebei, Jiangsu and Anhui provinces.
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Source: JA Solar Holdings Co., Ltd. 2012 GlobeNewswire, Inc.